Fastmarkets’ weekly price assessment for steel scrap 5C, loose old light, domestic, delivered inter-merchant, UK
, was £70-90 ($90-116) per tonne on Friday, up from £65-85 per tonne.
Major processors in the UK need a steady intake of scrap to keep their machines running at a cost-effective rate.
“I cannot imagine anyone getting tonnage at £65 per tonne any more,” one industry source said.
UK steel scrap suppliers have started their delivery...