The inter-merchant spot market for light iron scrap in the UK was up by ?5 ($6.53) per tonne in the week ended Friday January 17, tracking higher prices settled for monthly domestic deliveries to British consumers in January while steady export demand buoyed the country's scrap markets.
Fastmarkets' weekly price assessment for steel scrap 5C, loose old light, domestic, delivered inter-merchant, UK, was ?95-110 ($124-144) per tonne on Friday. There has been a regular flow of UK steel scrap exports along traditional routes to Turkey and the Indian subcontinent so far in January, as well as steady business from other suppliers in Europe.The light iron market was back up to a level last seen around the end of April 2019, when the price range was assessed at ?90-110 per tonne. The market had...