UK SCRAP: Light iron market tracks weaker May settlements

The UK’s light iron market has dropped over the week ending May 17, losing another £5 ($6.41) per tonne following a £10 loss due to weaker European export markets into Turkey since late April, sources told Fastmarkets.

The move follows a £15-per-tonne drop in monthly delivery settlements for May that were settled between British suppliers and steelmakers this week. Fastmarkets’ weekly price assessment of the UK grade-5C ferrous scrap price on an inter-merchant basis was assessed at £75-95 ($96-122) per tonne on May 17, down from £80-100 per tonne on May 10, marking the second time the price has moved since March 15. "The Turkish import market has been dropping...


Declan Conway

May 17, 2019

17:00 GMT