UK SCRAP: Light iron market stable amid August settlements

The UK light iron scrap market held steady this week, with inter-merchant prices unchanged for the second week in a row amid reports of monthly delivery contracts to domestic consumers being settled at prices around £15 per tonne lower than in July.

Metal Bulletin’s weekly price assessment for UK grade-5C ferrous scrap on an inter-merchant basis was £90-120 ($116-154) per tonne on Friday August 10. Traders were keeping light iron scrap prices steady until monthly delivery settlements are fully finalised between suppliers and consumers in the British steel industry. Consumers were slow to reach monthly settlements in July due to uncertain demand in key export destination of Turkey, which usually buys a mixture of shredded and HMS-grade scrap from Europe. As a result, British consumers have their most recent monthly settlements delivered until August 16,...


Declan Conway

August 10, 2018

19:25 GMT