UK SCRAP: Light iron market consolidates gains, but pressures seen

The inter-merchant spot market for light iron scrap in the UK was steady in the week ended Friday January 24, but a drop in European export prices to traditional markets in Turkey and the Indian subcontinent may drag on British prices in the near term, sources told Fastmarkets.

Fastmarkets' weekly price assessment for steel scrap 5C, loose old light, domestic, delivered inter-merchant, UK, was ?95-110 ($125-144) per tonne on Friday.
A sudden steep drop in European scrap export prices into Turkey late last week was followed by another drop late this week, which in turn unsettled Indian importers, who then cut their prices.

There have already been one or two reports from British steel scrap sources that trade in light iron, saying that British...

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