UK STEEL SCRAP WEEKLY: Market price holds for four consecutive weeks

The inter-merchant spot price for light iron scrap in the UK was steady for the fourth consecutive week in the week to Friday July 10, supported by relatively low volumes being delivered into yards and steady export trade, industry sources said.

UK steel scrap supply has seen lower scrap generation due to the economic impact of the Covid-19 pandemic and the national lockdown which is gradually being lifted. But steel scrap arising from car and white goods scrappage, and demolition projects, has been falling, while being somewhat balanced by lower scrap intake at steel smelters.

Talks for steel scrap delivery settlements into UK steelmakers started this week, with some settlements reported at a low decrease in contracts. Most deals are expected to be done...


Declan Conway

July 10, 2020

17:55 GMT