UK SCRAP: Light iron market stabilizes, export prices pick up
The inter-merchant spot market for light iron scrap in the UK was steady in the week ended Friday February 7, stabilizing after falling more than 11% in the prior week, with higher export prices from Europe this week supporting domestic British prices, sources told Fastmarkets.
Fastmarkets’ weekly price assessment of steel scrap 5C, loose old light, domestic, delivered inter-merchant, UK
was £70-90 ($91-117) per tonne on Friday, unchanged.
The move followed settlements this week in British monthly steel scrap deliveries to domestic steel mills for February contracts, which sources have reported this...