The inter-merchant spot market for UK light iron scrap dropped for a second consecutive week on Friday September 13, tracking weaker prices in monthly delivery settlements to consumers.
Still, with major shredders needing high volumes of scrap to make their machines cost-effective, the drop in the inter-merchant light iron market has been only small, despite heavier losses in consumer delivered prices.The UK ferrous scrap market for deliveries to domestic consumers in September has settled with almost all prices down by around ?25 ($31) per tonne, with weakness in consumer demand both at home...