Prices for inter-merchant light iron scrap in the United Kingdom increased to as much as ?180 ($254) per tonne over the week ended Friday May 21, a level last seen in April 2012, on firm fundamentals that have encouraged higher offer prices.
Fastmarkets' price assessment for steel scrap 5C, loose old light, domestic, delivered inter-merchant, UK was ?170-180 ($240-255) per tonne on Friday, compared with ?160-175 per tonne a week earlier. This is the highest since the assessment hit ?180-185 per tonne in April 2012 when the UK economy was among others to bounce back from the economic crisis a few years before."There has been a slight uptick in the Turkish import scrap price, while the container market has been static," one major scrap processor said. "However, there is bullish sentiment among scrap merchants...we have seen prices move on the purchase side and...