The inter-merchant spot market for UK light iron scrap was stable over the week to Friday August 16, marking eight weeks of stability, with the price range hemmed between relatively tight availability for major shredder companies and capped to the upside on slow consumer demand.
The steady trend marks one of the longest runs of price stability in the market for more than 20 years, according to the Fastmarkets pricing archive. Fastmarkets' assessment of the price for steel scrap 5C, loose old light, domestic, delivered inter-merchant, UK was ?80-100 ($97-121) per tonne on Friday August 16, unchanged week on week. "The price appears to be well stable as all the factors...