The UK light iron inter-merchant spot market has been relatively stable amid some widening in price assessments while suppliers and consumers jockey for position in their estimates for the outcome of July monthly settlement talks due to start next week, sources told Fastmarkets on Friday June 28.
Fastmarkets' weekly price assessment for UK grade-5C ferrous scrap on an inter-merchant basis was ?80-100 ($101-127) per tonne on June 28, down ?5 per tonne from the week before. Some sources reckon that ?90 per tonne is the highest paid for scrap in northern England, while others said some scrap shredder firms were willing to pay up to ?110 per tonne.Firm demand from major shredders who are trying to get enough scrap through their yards to make their machines cost-effective has been supporting the UK light iron market. That level of support has been added to with a jump in demand...