UK STEEL SCRAP WEEKLY: Market up on firmer fundamentals

The inter-merchant spot market for light iron scrap in the United Kingdom was up over the week to Friday August 14 due to firmer demand from major shredders that supply consumers in the steel sector combined with persistently tight availability, sources told Fastmarkets.

Fastmarkets’ weekly price assessment for steel scrap 5C, loose old light, domestic, delivered inter-merchant, UK was assessed at £90-100 ($118-131) per tonne on Friday, up from £85-95 per tonne on August 7. Some sources said offer prices were as much as £110 per tonne in dockside areas where domestic trade competes with export business.
“The light iron market is even as high as £100-110 per tonne in parts of the country,” one trader said.

“Shredded scrap supplies are very tight due to the UK economy operating at...


Declan Conway

August 14, 2020

19:06 GMT