The UK's light iron market has dropped over the week ending May 17, losing another ?5 ($6.41) per tonne following a ?10 loss due to weaker European export markets into Turkey since late April, sources told Fastmarkets.
The move follows a ?15-per-tonne drop in monthly delivery settlements for May that were settled between British suppliers and steelmakers this week.Fastmarkets' weekly price assessment of the UK grade-5C ferrous scrap price on an inter-merchant basis was assessed at ?75-95 ($96-122) per tonne on May 17, down from ?80-100 per tonne on May 10, marking the second time the price has moved since March 15."The Turkish import market has been dropping...