Light iron steel scrap prices in the United Kingdom have increased for a fifth consecutive week, because of higher export prices in key markets, sources told Fastmarkets on Wednesday February 22,.
But a correction could be coming, they added, with global markets beginning to struggle.Fastmarkets' weekly price assessment for UK grade-5C ferrous scrap on an inter-merchant basis was ?95-120 ($124-157) per tonne on February 22, up from ?90-115 per tonne one week earlier.This was the fifth weekly rise in the price, from ?60-90 per tonne on January 18.This uptick in the UK weekly light iron market follows the trend set by the UK ferrous monthly delivery settlements for February,...