UK STEEL SCRAP WEEKLY: Light iron market extends bounce on tight supply, good export demand

The recent bounce in the United Kingdom's light iron steel scrap market extended into this week due to tight domestic supplies amid renewed export demand, sources told Fastmarkets.

Fastmarkets' weekly price assessment for steel scrap 5C, loose old light, domestic, delivered inter-merchant, UK was ?145-160 ($205-226) per tonne on Friday February 26, up from ?140-150 per tonne on February 19.
The market had also moved higher the week before, climbing for the first time in five weeks due to the same business conditions.
The UK light iron inter-merchant market is at its highest level since May 2012 when the price range was $160-170 per tonne.

"UK steel scrap prices have climbed on fundamental reasons of tight supplies and firm...

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