UK SCRAP: Light iron market up by another $6 per tonne

The inter-merchant spot market for light iron scrap in the UK moved up by £5 ($6) per tonne in the week ended Friday November 8, repeating the increase by a similar amount the week before, on steady domestic demand and higher European export prices.

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 negotiations with domestic...


Declan Conway

November 08, 2019

18:40 GMT