UK STEEL SCRAP WEEKLY: Market moves up on tighter supplies

The inter-merchant spot market for light iron scrap in the UK moved up over the week ended Friday July 17 after being unchanged since June 12, with tighter supplies for delivery into yards seeing higher prices, industry sources said.

Fastmarkets’ weekly price assessment for steel scrap 5C, loose old light, domestic, delivered inter-merchant, UK, was up by £5 per tonne to £85-95 ($107-119) per tonne on Friday.
Scrap generation in the UK has not returned to the levels seen before the lockdown measures to contain the spread of the Covid-19 pandemic were introduced in March. Consequently, there has been a fall in scrap arisings from vehicle and white goods scrappage, as well as a drop in the numbers of demolition projects.

Price support has been built on relatively firm demand in European steel scrap exports to traditional buyers in Turkey and the Indian...

Published

Declan Conway

July 17, 2020

15:33 GMT

Galway