UK SCRAP: Prices continue to rise but 'bubble could burst soon'

Light iron steel scrap prices in the United Kingdom have increased for a fifth consecutive week, because of higher export prices in key markets, sources told Fastmarkets on Wednesday February 22.

But a correction could be coming, they added, with global markets beginning to struggle. Fastmarkets’ weekly price assessment for UK grade-5C ferrous scrap on an inter-merchant basis was £95-120 ($124-157) per tonne on February 22, up from £90-115 per tonne one week earlier. This was the fifth weekly rise in the price, from £60-90 per tonne on January 18. This uptick in the UK weekly light iron market follows the trend set by the UK ferrous monthly delivery settlements for February,...

Published

Carrie Bone

February 22, 2019

17:28 GMT

London