UK SCRAP: Market prices hold up, but downward pressure builds

Light iron steel scrap prices in the United Kingdom were maintained at their previous level in the week ended Friday March 1, consolidating five straight weeks of increases.

But a slowdown in export business and the increasing strength of sterling versus the dollar was likely to be a drag on the British steel scrap markets in the next few days, sources told Fastmarkets. Fastmarkets’ weekly price assessment for UK grade-5C ferrous scrap on an inter-merchant basis was £95-120 ($126-159) per tonne on March 1. The price was £60-90 per tonne on January 18. The developing situation in the steel scrap export markets from Europe to key destinations such as Turkey and the Indian subcontinent, combined with the...

Published

Declan Conway

March 01, 2019

16:25 GMT

Galway