UK STEEL SCRAP WEEKLY: Light iron price range widens as exports weaken

The price range for UK-origin light iron has widened downward in the week ending Friday January 22, with the lower end of the range falling because weaker export prices into traditional markets have put pressure on domestic prices in Britain, trade sources said.

This downward pressure was mitigated, however, by relatively tight supplies coming into yards, as a result of reduced arisings from the automotive and construction sectors.
Scrap generation has been falling for several months in line with reduced consumer spending, which was driven by job losses and lower incomes resulting from a slump in economies on the effects of the Covid-19 pandemic.
Light iron is generally considered for use in white goods appliances, along with other thin-gauge steel, and is common across all types of household goods and small appliances.

“There has been no real change in light iron prices, as far as we aware,” one industry source said. “Incoming steel scrap tonnages are a long way below normal and very few, if any,...

Published

Declan Conway

January 22, 2021

16:45 GMT

Galway