The light iron market in the UK has dropped in the past week, with traders cutting their prices amid weaker European export markets, particularly into Turkey, sources told Fastmarkets on Friday May 3.
Moreover, with European scrap export markets into Turkey set to get weaker in the near term, UK consumer monthly delivery settlements for May are likely to drop by a similar amount, they said.Fastmarkets' weekly price assessment of the UK grade-5C ferrous scrap price on an inter-merchant basis was down ?10 to ?80-100 ($104-130) per tonne on May. The price had been unchanged since March 15."It looks pretty certain that UK monthlies will be down by ?10 per tonne and the 5C price...