Prices for inter-merchant light iron scrap in the United Kingdom were stable for the third consecutive week on Friday June 11, supported by firm fundamentals and with suppliers negotiating monthly delivery settlements into domestic steelmakers, trade sources told Fastmarkets.
British scrap supplies into yards have been tight in recent months amid reduced scrap arisings from depressed car production and a fall in demolition projects as a result of the Covid-19 pandemic. Although the UK economy is recovering, there is a lag in scrap being generated, with car production and new car sales still at a depressed level."There has been no change in the light iron market from last week," one supplier said....