UK STEEL SCRAP WEEKLY: Market mulls change of direction on weaker export markets

The light iron scrap market in the UK was unchanged on Friday July 30, but a change in direction was likely due to a recent drop on the export markets, sources have told Fastmarkets.

Fastmarkets’ weekly price assessment for steel scrap 5C, loose old light, domestic, delivered inter-merchant, UK, was £180-195 ($251-272) per tonne on Friday, unchanged at a multi-year high.
Market participants expected that the recent fall on the Turkish market would be reflected in UK pricing in the next few days, but it has remained steady this week.

“I’ve heard that [prices from] some big...


Carrie Bone

July 30, 2021

16:45 GMT