Prices for inter-merchant light iron scrap in the UK increased to a nine-year peak over the week ended Friday May 14, driven by tight supplies and strong domestic and export demand, sources have told Fastmarkets.
Fastmarkets' latest price assessment for steel scrap 5C, loose old light, domestic, delivered inter-merchant, UK was ?160-175 ($225-246) per tonne on Friday, compared with ?150-165 per tonne a week earlier. The last time the market was above ?170 per tonne was in April 2012 when the price range was ?180-185 per tonne when the UK economy was among others to bounce back from the economic crisis a few years before."The light iron market is in short supply...