UK SCRAP: Light iron market stable ahead of January monthlies

The inter-merchant spot market for light iron scrap in the UK was unmoved in the week ended Friday January 10, while there was an increase in business from Europe to traditional export markets in Turkey and the Indian subcontinent.

The UK steel scrap market is preparing for the settlement of monthly delivery contracts to domestic steelmakers, with some industry sources suggesting a rollover may be agreed in the coming week.
One domestic development this week that may influence the outcome of monthly price settlement negotiations was the news that UK steelmaker Liberty Steel plans to cut more than 350 jobs in response to the “challenging market conditions.”

Fastmarkets’ weekly price assessment for steel scrap...

Published

Declan Conway

January 10, 2020

17:17 GMT

Galway