UK STEEL SCRAP WEEKLY: Market stability continues on low deliveries into yards

The inter-merchant spot price for light iron scrap in the UK was steady in the week ended Friday July 3, extending a run of stability into a third week, with the market supported by relatively low volumes of scrap being delivered into yards, trade sources said.

The UK market has also been supported by steady purchasing in the European steel scrap export market by traditional destinations such as Turkey, where prices have edged higher this week.
UK trading sources were being watchful about monthly delivery settlements for July to domestic consumers in the steel sector, with talks due to start next week. So far, there have been mixed expectations for either a rollover or a small decrease from contracts concluded in June.

Fastmarkets’ weekly price assessment for steel scrap 5C, loose old light, domestic, delivered inter-merchant, UK, was £80-90 ($100-112) per...

Published

Declan Conway

July 03, 2020

17:50 GMT

Galway