The inter-merchant market for light-iron steel scrap in the United Kingdom moved higher over the week to Friday October 22 amid tight domestic supplies and strong export markets into both deep-sea and short-sea destinations, trade sources told Fastmarkets.
The market has rebounded to match an annual peak of ?195 ($269) per tonne last seen in July when the price range was ?180-195 per tonne. Scrap suppliers also noted a jump in offer prices for other grades of material traded in the UK, suggesting a potential increase in monthly delivery prices for contracts to consumers in November.