The UK light iron scrap market finally moved up this week, breaking a 12-week run of stability due to firmer demand and the conclusion of the July monthly delivery settlements to consumers next week.
Metal Bulletin's weekly price assessment for UK grade-5C ferrous scrap on an inter-merchant basis was ?95-125 ($126-165) per tonne on Friday. This compares with the low for the year to date of ?90-115 per tonne from February 9. There was a wide margin of assessments from sources, with some as low as ?90 per tonne for light iron scrap traded between merchants, while others reported a top end as high as ?135 per tonne. The bulk of assessments, however, were reported within the published, traded price range. Market attention is now focused on July delivery settlements from domestic suppliers to consumers in the...