Fastmarkets’ weekly price assessment for steel scrap 5C, loose old light, domestic, delivered inter-merchant, UK
, was £100-110 ($129-142) per tonne on Friday.
The trend in UK steel scrap markets looked likely to persist in the near future, as long as current business conditions do likewise. Tighter domestic steel scrap supplies have recently been met with firmer demand from British steelmakers since the summer slowdown.
“Following from last week’s [monthly] price increases, everything is very settled now,” one UK-based source said.
“Prices are probably higher than at any...