Prices for light iron scrap in the United Kingdom were steady this week, consolidating a rise of ?5 ($7) per tonne over the week before, sources told Fastmarkets on Friday November 9.
This increase reflected the fundamental pattern of domestic business conditions and a similar pattern in key export destinations, they added.Fastmarkets' weekly price assessment for UK grade-5C ferrous scrap on an inter-merchant basis was at ?90-120 ($118-157) per tonne on November 9, unchanged from a week before."The major shredders were prepared to pay a bit more to keep scrap coming through their yards, and there seems to be a general acceptance in the market that not much will change in the market in the near term," one market source said."The monthly delivery contracts to...