The inter-merchant spot market for UK light iron was stable over the week to Friday August 2, extending the steady trend into a sixth week, in line with persistently limited volumes of material being made available to major processors, sources have told Fastmarkets.
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 August 2, unchanged week on week.In general, the UK steel scrap markets seemed to be squeezed between the downward force of weak underlying consumption in the steel sector and limited availability due to the depressed car-making and construction sectors, where scrappage rates have fallen this year.These factors have led market sentiment to expectations of another rollover in UK monthly delivery settlements to consumers...