The British light iron market was steady over the week to Wednesday December 23 as trading activity slowed ahead of the Christmas and New Year holidays, with many traders already off work, trade sources told Fastmarkets.
Still, with European export markets into key destinations such as Turkey climbing since Friday December 18, it seems likely that UK steel scrap prices will extend their price gains in January 2021 when British traders return in full after the seasonal break.In the British market, where scrap generation has fallen by an estimated 40% this year while scrap arisings fell in line with end-user consumption in steel-consuming sectors such as automotive and construction, most of its scrap supply is exported. On...