UK STEEL SCRAP WEEKLY: Light iron market returns to annual peak on firm fundamentals

The inter-merchant market for light-iron steel scrap in the United Kingdom moved higher over the week to Friday October 22 amid tight domestic supplies and strong export markets into both deep-sea and short-sea destinations, trade sources told Fastmarkets.

The market has rebounded to match an annual peak of £195 ($269) per tonne last seen in July when the price range was £180-195 per tonne. Scrap suppliers also noted a jump in offer prices for other grades of material traded in the UK, suggesting a potential increase in monthly delivery prices for contracts to consumers in November.
Fastmarkets’ assessment of steel scrap 5C loose old light domestic, delivered inter-merchant UK was £175-195 per tonne on Friday, up by £5 per tonne.


Declan Conway

October 22, 2021

16:25 GMT