The market in the United Kingdom for grade-5C ferrous scrap was unchanged this week, remaining stable while suppliers held firm their offer prices after steady losses in the previous three weeks.
The market had been dropping since the price was last assessed on January 12, with suppliers cutting their offer prices in line with export demand.But an upturn in European export prices to the key destination of Turkey this week has encouraged British suppliers to hold back their light iron sales on an inter-merchant basis. Turkish steelmakers have returned to the European market in...