UK STEEL SCRAP WEEKLY: Light iron price tracks monthly settlements upward

The British light iron market hit £150 per tonne in the week ending Friday January 15, a level last seen almost eight years ago, amid firm fundamentals, reduced supplies coming into yards and strong export demand, trade sources said.

Fastmarkets’ weekly price assessment for steel scrap 5C, loose old light, domestic, delivered inter-merchant, UK, was £140-150 ($191-205) per tonne on Friday, up from £130-145 per tonne on January 8. This was the highest since the price was in the range of £140-150 per tonne in April 2013.

British steel scrap prices were likely to be firm in the near term, UK traders said, despite a cooling in...

Published

Declan Conway

January 15, 2021

17:42 GMT

Galway