UK SCRAP: Light iron price steady for third straight week

The inter-merchant spot market for light iron scrap in the UK was flat in the week ended Friday February 28, extending a period of price stability this month against a recovery in European export prices and with major British shredders seeking steady supplies, sources have told Fastmarkets.

Fastmarkets’ weekly price assessment for steel scrap 5C, loose old light, domestic, delivered inter-merchant, UK, was £70-90 ($90-116) per tonne on Friday. The market was at a year-to-date peak of £95-110 per tonne in mid-January.
Market sentiment suggested that current business conditions in the UK, as well as in European export markets, may mean a recovery in British monthly delivery settlements for March after a loss of about £25 per tonne in February.

But signs of difficulties in getting containers in which to ship their scrap material, due to the global measures being taken...

Published

Declan Conway

February 28, 2020

16:54 GMT

Galway