§ Mr. MichaelTo ask the President of the Board of Trade (1) what is his assessment of the impact of increased demand and price for ferrous scrap internationally on the United Kingdom industry; and what steps he intends to take to help the United Kingdom industry;
(2) what assessment his Department has made of (a) demand and (b) price of ferrous scrap in the current year and in each of the past 10 years.
§ Mr. SainsburyThe Government have been closely monitoring recent developments. Ferrous scrap is an internationally traded commodity and as such will vary in price according to the level of supply and demand.
I have agreed to meet a delegation from the steel and foundry industries. We have also discussed these matters with the European Commission, which is currently undertaking an in-depth study of the international scrap market. We will be studying the results carefully.
§ Mr. MichaelTo ask the President of the Board of Trade what was the level of export of ferrous scrap(a) in terms of tonnage and (b) in terms of value in each of the past 10 years; and what is his projection for 1994.
§ Mr. SainsburyThe information requested is published in the "Overseas Trade Statistics of the United Kingdom, Central Statistical Office", a copy of which is in the Library of the House.