Prices for light iron, grade-5C steel scrap from the United Kingdom moved higher this week as the market tracked higher gains in the export market to key destinations such as Turkey and the Indian sub-continent, sources told Metal Bulletin on Friday February 23.
Metal Bulletin's price assessment for UK grade-5C ferrous scrap on an inter-merchant basis was ?95-125 ($132-174) per tonne, up ?5. Market sentiment suggests that the UK scrap market may increase further in the near term if current conditions persist. However, any influx of steel potentially redirected towards Europe if the United States imposes tariffs or quotas...