The market in the United Kingdom for grade 5C ferrous scrap has increased in the past week, with prices rising on tough competition between a couple of major dealers for seemingly tight supplies, according to industry sources.
And the current trend toward higher prices that started on November 10 last year may persist in the near future amid tough competition for material.Northern European export prices to the key export market of Turkey were mixed this week, with prices easing for heavy melting scrap (HMS), while the cost of shredded material increased.Metal Bulletin's price assessment for UK grade-5C ferrous scrap was ?115-140 ($155-189) per tonne on Friday January 12.The UK market is now at its highest since December 2013, when prices reached ?130-140 per tonne. The market hit...