Prices in the United Kingdom light iron scrap market have rallied this week, picking up where they left off late in 2017, with tight availability encouraging higher offer prices.
The current trend toward higher prices started on November 10 last year.Metal Bulletin's price assessment for UK grade-5C ferrous scrap was ?110-135 ($149-183) per tonne on Friday January 5.The market is now at its highest since April 2014, when prices reached ?125-135 per tonne. Before then, the peak was ?130-140 per tonne in December 2013.The price, which hit a three-year peak of ?95-130 per tonne in the first half of September 2017, was ?65-95 per...