UK STEEL SCRAP WEEKLY: Firm fundamentals support light iron market

Prices for inter-merchant light iron scrap in the UK market were stable over the week to Friday November 6, extending a steady trend for the fourth consecutive week on firm domestic fundamentals and cemented by active export trading, sources told Fastmarkets.

Fastmarkets' weekly price assessment for steel scrap 5C, loose old light, domestic, delivered inter-merchant, UK, was ?95-105 ($124-137) per tonne on November 6, unchanged from the week before.
The move followed the start of another national lockdown period in England, although steel scrap sources expected this to have a negligible effect on scrap generation and collection. Unlike the first lockdown measure in March, the new one was not as far-reaching because heavy industry was effectively untouched, sources said.

"We cannot see this lockdown making much difference to scrap availability," one UK industry source...

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