The light iron steel scrap market in the United Kingdom has been stable over the week ended Friday January 4, extending a steady performance in prices for the third consecutive week.
But downward pressures pose a threat, with January delivery settlements expected to be at lower prices, sources told Fastmarkets.Fastmarkets' weekly price assessment for UK grade-5C ferrous scrap on an inter-merchant basis was ?65-95 ($82-120) per tonne on January 4. The market moved down by ?10 per tonne to its present level on December 14, and is at its lowest since October 2017.Some industry sources reckon, however, that the light iron market may be dragged...