UK STEEL SCRAP WEEKLY: Light iron market steady ahead of monthly contract talks

May 29, 2021 / www.metalbulletin.com / Article Link

Prices for inter-merchant light iron scrap in the UK were steady over the week ended Friday May 28, consolidating firm gains from the previous week that hit a nine-year peak, with increases possible in talks due next week between suppliers and steel mills, trade sources have told Fastmarkets.

Fastmarkets' price assessment for steel scrap 5C, loose old light, domestic, delivered inter-merchant, UK, was ?170-180 ($241-255) per tonne on Friday, unchanged from a week earlier. The market was at its highest since April 2012, when the price range was assessed at ?180-185 per tonne.
But some UK trade sources said that weaker steel scrap prices into Turkey, India and Pakistan from Europe this week may prove to be a drag on domestic European markets in the near term.

"We are not seeing any change in prices at the moment. There are still some high anomalies but those are not in...

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