§ Mr. Weetchasked the Secretary of State for Industry (1) what measures he proposes to help those in difficulties because of rises in the price of baled scrap; and whether he will make a statement;
(2) what is the effect of the British Steel Corporation's policies on the price and supply of baled scrap; and whether he will make a statement;
(3) in view of the fluctuations in the baled scrap market, what measures he is taking to bring price stability to the situation.
§ Mr. KaufmanThe prices paid fror baled and other ferrous scrap and the procurement of adequate supplies are commercial matters for which the consuming industries are responsible. Since the removal at the end of 1974 of restrictions on exports of scrap to the Community, prices have been increasingly determined by world market pressures. The British Steel Corporation aims to secure its supplies as economically as possible and, along with other consumers, contributes to stable trading conditions by importing scrap during periods of shortage. The Corporation is also increasing its production of iron which should help to relieve the scrap shortage.
We have reduced by 25 per cent. the April-June 1976 quota for exports to non-Community countries of low grade scrap, which includes some baled scrap. No exports to these countries of higher grade scrap are permitted. The Government will continue to keep the export situation under review.