Fastmarkets’ weekly price assessment for steel scrap 5C, loose old light, domestic, delivered inter-merchant, UK
, was £70-90 ($89-114) per tonne on Friday March 13. The market was at a year-to-date peak of £95-110 per tonne in mid-January.
In the past few weeks, regular demand from major domestic shredders and steady steel scrap business from Europe into Turkey have supported the UK light iron market. But Turkish demand has weakened in recent days and that may weigh on light iron prices in the near term, sources said.
“There has been no significant change in...