The inter-merchant spot price for light iron scrap in the UK has stabilized over the past week after falling by more than 37% between March 13 and March 27, as the market pauses ahead of monthly delivery settlements to consumers for April.
Fastmarkets' weekly price assessment for steel scrap 5C, loose old light, domestic, delivered inter-merchant, UK, was unchanged at ?45-55 ($56-68) per tonne on Friday April 3, after dropping ?15 a week ago. The market was at a year-to-date peak of ?95-110 per tonne in mid-January."The light iron price is flat; there is not much trading activity going on," one UK supplier said. "We will not be cutting our...