UK light iron scrap market holds at 2010 peak

Tight availability and firm demand among major scrap processors supported the United Kingdom inter-merchant light iron scrap market over the week to Friday December 3, with the price holding at a high last seen more than a decade ago, sources said.

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...

Published

Declan Conway

December 03, 2021

17:00 GMT

Galway

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