UK STEEL SCRAP WEEKLY: Light iron price down for fourth week The price range for UK-origin light iron scrap fell for the fourth week in a row in the period to Friday February 12, with British scrap export prices having been persistently low in the past few weeks. But a market bottom may have been reached because European export prices to the key destination of Turkey recovered late in the week, sources told Fastmarkets on Friday.
The consistent fall in the UK light iron market was likely to be followed by a downward move in British steel scrap delivery settlement prices to domestic consumers. With some settlements yet to be made, market reports have suggested that February delivery prices will be down by at least £20 ($28) per tonne for the month.
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In our last international trade brief, we discussed the
U.S. suspending the Section 232 tariff on Canadian aluminum. In
this international trade brief, we explore what parties engaging in
Canada-UK trade should expect now that Brexit has officially come
into force, and discuss the transitional agreement between Canada
and the UK – the
Trade Continuity Agreement between
Canada and the United Kingdom of Great Britain and Northern
Ireland.
As of January 1, 2021, Brexit has officially come into force. As
the United Kingdom leaves the European Union, it is no longer
Europe Editor
This week, as Brexit took effect, a company in Cork that sells sports posters to Europe and around the world ceased all direct online sales to the UK. There s no point having the hassle, said Wayne Mullins, a graphic designer who runs Kobe Designs. I ll just not send to the UK. I ll keep selling to the [United] States and the rest of the world.
The UK market accounts for 50% of Mullins s sales. It s a significant part of the business, but it s just not worth taking the risk for now, he said.
Within days of a zero tariff, zero quota free trade post-Brexit agreement being struck, it appears that unforeseen, unheralded or just poorly understood frictions have come to the surface, hitting companies like Kobe Designs.
broad
economic, social and environmental cooperation in areas of mutual interest (notably road transport, aviation, energy, climate change, fishing, EU funding programmes and social security coordination;
a
a
governance framework that includes a hierarchy of oversight bodies and robust disputes provisions including an arbitration tribunal.
The TCA is not however structured by reference to pillars. Rather, it consists of four components:
general and institutional arrangements;
arrangements on law enforcement and judicial cooperation in criminal matters; and
provisions on dispute settlement, basic values and safeguard measures.
The institutional arrangements
The governance of the TCA is to be conducted through a hierarchy of bodies established by the TCA, all of which are to be co-chaired by an EU and a UK representative, making decisions by mutual agreement: