UK STEEL SCRAP WEEKLY: Prices hold up on tight supply, gains likely

The price for UK-origin light iron scrap was steady in the week to Friday April 16 after narrowing upward in the previous week, with tight availability of material prompting major shredders to compete strongly for feedstock to keep their machines running cost-effectively, sources told Fastmarkets.

British business conditions were expected to remain difficult through the current quarter at least and, with export levels to key destinations such as Turkey and the Indian subcontinent expected to remain firm in the near term, more increases in British steel scrap prices were expected, they said.
Fastmarkets’ price assessment for steel scrap 5C, loose old light, domestic, delivered inter-merchant, UK, was £145-155 ($200-214) per tonne on April 16, unchanged from April 9.

“The monthly market in April was steady, and there is still the situation of reduced availability into scrapyards from a fall in arisings,” one source said. This...


Declan Conway

April 16, 2021

16:20 GMT