Light iron steel scrap prices in the United Kingdom were maintained at their previous level in the week ended Friday March 1, consolidating five straight weeks of increases.
But a slowdown in export business and the increasing strength of sterling versus the dollar was likely to be a drag on the British steel scrap markets in the next few days, sources told Fastmarkets.Fastmarkets' weekly price assessment for UK grade-5C ferrous scrap on an inter-merchant basis was ?95-120 ($126-159) per tonne on March 1. The price was ?60-90 per tonne on January 18.The developing situation in the steel scrap export markets from Europe to key destinations such as Turkey and the Indian subcontinent, combined with the...