November 3: A collapse in demand for recycled post-consumer steel means that from today Corus will pay nothing for used steel cans delivered to its CanRoute collection centres in the UK.
Six months ago, more than £200 was being paid for each tonne of recycled scrap steel, a figure that recently dropped to £10.
The move is being blamed on the global economic slowdown which has resulted in a decline in demand for new steel products in the UK, particularly in the automotive and construction sectors.
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