United Kingdom

Owing to reduced sales levels and demand in Turkey, prices decreased by around £15 per tonne during the course of September for HMS and OA delivered to the docks. Furthermore, UK container sales prices began to see a reduction in response to a lack of demand for steel in Pakistan and India. On the home front, pressure is continuing to be seen on volumes into shredder operations.

Looking ahead at prospects for the various markets, the outlook for container business is of a further decline owing to a lack of demand for finished materials. The prospects for the deep-sea market appear more positive, with prices and demand remaining stable; there has been a small recent improvement but this is expected to be short-lived. The short-sea outlook looks bleak, meanwhile, with one agent stating that the market is at its most depressed since before the COVID pandemic.