UK SCRAP: Light iron market consolidates earlier price rises

Prices for light iron scrap in the United Kingdom were steady this week, consolidating a rise of £5 ($7) per tonne over the week before, sources told Fastmarkets on Friday November 9.

This increase reflected the fundamental pattern of domestic business conditions and a similar pattern in key export destinations, they added. Fastmarkets’ weekly price assessment for UK grade-5C ferrous scrap on an inter-merchant basis was at £90-120 ($118-157) per tonne on November 9, unchanged from a week before. “The major shredders were prepared to pay a bit more to keep scrap coming through their yards, and there seems to be a general acceptance in the market that not much will change in the market in the near term,” one market source said. “The monthly delivery contracts to...

Published

Declan Conway

November 09, 2018

16:23 GMT

Galway