Fastmarkets’ weekly price assessment for steel scrap 5C, loose old light, domestic, delivered inter-merchant, UK
, was £150-165 ($209-230) per tonne on Friday, up from £145-160 per tonne on February 26.
The UK light iron inter-merchant market was at its highest level since May 2012, when the price range was $160-170 per tonne.
“The light iron price has drifted up a little, and there are always a few more pounds [added to the price] for a good tonnage of clean material. Availability isn’t going to improve any time soon,” one industry source said.
“There is also steady demand for...