Prices for light iron scrap in the United Kingdom have not changed over the past seven days, extending a period of stability into a seventh consecutive week, sources told Metal Bulletin on Friday October 26.
But market sentiment suggests that the light iron market may move higher in the near term because demand was firm among the major shredders and there was strong demand from an unusual source across the Atlantic Ocean, sources said.Fastmarkets' weekly price assessment for UK grade-5C ferrous scrap on an inter-merchant basis held firm at ?85-115 ($109-148) per tonne on October 26."We're being offered light iron scrap for at least ?125 per tonne now," one scrap exporter in the city of Liverpool told Fastmarkets. The UK inter-merchant light iron market is usually the highest in price around Liverpool, which typically has the...