UK market fundamentals are being further hardened by relatively strong exports into deep-sea destinations such as Turkey and the Indian subcontinent, with steady weakness in sterling versus the dollar encouraging more foreign demand for British steel scrap. The British inter-merchant steel scrap market was last at its current price range £205-215 per tonne in April 2010.
Fastmarkets assessed the price of steel scrap 5C, loose old light, domestic, delivered inter-merchant UK
at £185-200 ($246-266) per tonne on Friday, unchanged week on week.
“The UK market fundamentals are solid and if anything we expect further price increases in the coming weeks as availability is...