The UK light iron scrap market was stable in the week to Friday June 29 for the 12th week in a row, confounding expectations for a rise in line with renewed demand in major export market Turkey in general this month, sources said.
Metal Bulletin's weekly price assessment for UK grade-5C ferrous scrap on an inter-merchant basis was ?90-120 ($118-157) per tonne on Friday. This compares with the low for the year to date of ?90-115 per tonne from February 9.Industry sources had few expectation of a change in the light iron scrap market in the near term, they said, with all shredders appearing to have decent levels of feed. The UK monthly scrap market for deliveries to domestic consumers is due to be settled in the next week or two and further stability is forecast at this stage given current market conditions. "Nothing has changed in terms of prices in the light iron market and indeed for...