UK SCRAP: Light iron prices track upward trend in exports

Light iron steel scrap prices in the United Kingdom increased for the third consecutive week, tracking strengthening European export prices to Turkey and India in the week to Friday February 8.

The move to higher prices is the third increase since the start of November 2018, and puts the market at a level last seen on December 8. The market was at annual peak of £100-130 per tonne in March 2018. Fastmarkets' weekly price assessment for UK grade-5C ferrous scrap on an inter-merchant basis was £80-105 ($103-136) per tonne [LINK] on Friday February 8. "The British light iron market is being offered as much as £115 per tonne...  riding on the back of a jump in Turkish import prices in the past few weeks," one trader said. "We expect an increase of about £20 per tonne for the February monthly delivery settlements to consumers, perhaps even......

Published

Declan Conway

February 08, 2019

16:44 GMT

Galway