The price range for UK-origin light iron has dropped ?5 ($5.65) per tonne in the week ending Friday January 29 after a fall in European deep-sea export markets to traditional buyers in Turkey in the past couple of weeks weighed on British scrap prices, trade sources said.
Fastmarkets' weekly price assessment for steel scrap 5C, loose old light, domestic, delivered inter-merchant, UK was ?130-145 ($178-198) per tonne on January 29, down from ?135-150 per tonne on January 22.The European steel scrap export market reported a surprising return of Turkish importers on Thursday and Friday, which capped export price losses from Europe, and more buying is expected, trade sources said. If deep-sea buying for European steel scrap...