The inter-merchant spot market for UK-origin light iron scrap was steady in the week ended Friday October 4, stabilizing the losses made over the past two weeks, with suppliers keeping their offer prices firm ahead of agreeing domestic monthly settlements to consumers.
Fastmarkets' price assessment for steel scrap 5C, loose old light, domestic, delivered inter-merchant, UK, was ?60-80 ($74-99) per tonne on Friday.The market now matched the year-to-date low last seen on January 18, when the price range was ?60-90 per tonne. The market was last below ?60 per tonne in late January 2017, when the price range was ?57-77 per tonne. It was last at a level of ?40 per tonne three years ago, in October 2016.The week beginning October 7 should see the bulk of steel scrap delivery settlements from British suppliers to domestic steelmakers in the month, and...