UK STEEL SCRAP WEEKLY: 5C market steady, monthly deals expected to rise

The British light iron market was stable over the week to Friday December 4, consolidating a steady run of gains through November ahead of expected increases in domestic delivery settlements for December, trade sources told Fastmarkets.

There have been persistently stronger prices in inter-merchant trading for grade 5C scrap in the past few weeks, with major processors competing for tighter scrapflows into yards.
UK scrap generation was down this year by an estimated 40% due to the effects on heavy industry from movement restrictions imposed to contain the spread of the Covid-19 pandemic.
The recent rally in British steel scrap markets, both for inter-merchant and steelmaker purchases, has coincided with stronger demand in the export markets, particularly to Turkey, which is a key destination for European scrap.

Fastmarkets' weekly price assessment for steel scrap 5C, loose old light, domestic, delivered inter-merchant, UK, was ?105-120 ($127-161)...

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