UK STEEL SCRAP WEEKLY: Firm fundamentals push light iron market upward

The range for British domestic prices for grade-5C steel scrap widened in the week ended Friday April 23 on firm demand both at home and in export outlet regions, sources have told Fastmarkets.

The demand for light iron scrap came from major scrap processors in the country, a steady rate of exports to key destinations such as Turkey and the Indian subcontinent, and short sea sales into Europe, they added.
Scrap demand has also been strengthened by a fall in scrap arisings due to the effects on heavy industry of the Covid-19-related restrictions imposed nationally since March last year. These have knocked back output in the automotive and construction sectors, as well as end-user demand for white goods.

Fastmarkets' price assessment for steel scrap 5C, loose old light, domestic, delivered...

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