A steady increase in ferrous scrap demand to key destinations such as Turkey and the Indian subcontinent from Europe has pulled up prices for light iron, grade-5C steel scrap in the United Kingdom this week, sources told Metal Bulletin on Friday March 9.
The UK light iron scrap market has now moved up for four weeks in a row.Metal Bulletin's price assessment for UK grade-5C ferrous scrap on an inter-merchant basis was ?105-135 ($146-187) per tonne, up by ?5 per tonne. This compared with a price of ?90-115 per tonne on February 9.Sources reported a price range between ?100 and ?150 per tonne, although the bulk of market assessments were within the latest range.Turkish demand for European ferrous scrap has been strong, in...