Prices for light iron scrap in the United Kingdom went down this week by ?10 ($13) per tonne because of softer export prices, sources told Fastmarkets on Friday November 30.
The move followed a drop in European export prices to the major destination of Turkey, whose steel mills have been battling tough competition in the Asian markets, as well as a domestic slowdown.Prices in other key European export sales markets in the Indian sub-continent have also fallen in the past week.Fastmarkets' weekly price assessment for UK grade-5C ferrous scrap on an inter-merchant basis was ?75-105 ($96-134) per tonne on November 30, its lowest level since October 2017."Delivered-docks prices in the country are down by between ?10 and ?15 per tonne in the past day or two," one UK source said. "It's a bit doom-and-gloom in the British scrap market at present, probably because of persistently bad weather, which means that less scrap being generated,...