UK STEEL SCRAP WEEKLY: Light iron market extends rally for third week

The recent rally in the light iron steel scrap market in the UK extended into a third week amid a persistent tightness of supply into yards and firm demand for exports, sources told Fastmarkets on Friday March 5.

Fastmarkets' weekly price assessment for steel scrap 5C, loose old light, domestic, delivered inter-merchant, UK, was ?150-165 ($209-230) per tonne on Friday, up from ?145-160 per tonne on February 26.
The UK light iron inter-merchant market was at its highest level since May 2012, when the price range was $160-170 per tonne.
"The light iron price has drifted up a little, and there are always a few more pounds [added to the price] for a good tonnage of clean material. Availability isn't going to improve any time soon," one industry source said.

"There is also steady demand for...

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