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...

Published

Declan Conway

May 17, 2019

17:00 GMT

Galway