UK SCRAP: Light iron market resumes upward trend

The inter-merchant spot price for light iron scrap in the UK moved higher in the week ended Friday December 6, resuming price gains to a level last seen in late October after two consecutive weeks of stability.

The market has been on a upward path in general during the quarter, against strengthening export prices from Europe into Turkey and the Indian subcontinent, which has resulted in more competition for steel scrap in European markets.

Fastmarkets’ weekly price assessment for steel scrap 5C, loose old light, domestic, delivered inter-merchant, UK, was up £10 to £85-100 ($112-131) per tonne on Friday. The market is back up to a level last seen on August...

Published

Declan Conway

December 06, 2019

17:21 GMT

Galway