Prices for light iron scrap in the United Kingdom have dropped at the top end of their price range over the past week, with monthly settlements for deliveries to consumers in September set to follow, sources told Metal Bulletin on Friday September 7.
The move down in the weekly inter-merchant light iron price follows a decline in supplier offer prices in the UK market after a fall in demand from key export destinations such as Turkey and the Indian subcontinent. Metal Bulletin's weekly price assessment for UK grade-5C ferrous scrap on an inter-merchant basis was ?85-115 ($110-149) per tonne on September 7, compared with ?85-120 a week earlier. The UK light iron inter-merchant market is trading at the lower end of its price range in southern England,...