UK STEEL SCRAP WEEKLY: Market drops further amid summer slowdown

August 14, 2021 / www.metalbulletin.com / Article Link

The light iron scrap market in the United Kingdom dropped by ?5 ($7) per tonne at the top end of its price range over the week to Friday August 13 due to the seasonal summer slowdown and weaker monthly domestic delivery settlements, sources told Fastmarkets.

A drop in prices at UK dockside markets, a major influence on domestic prices, has also weighed on the light iron market, sources said.
Fastmarkets' weekly price assessment for steel scrap 5C, loose old light, domestic, delivered inter-merchant, UK was ?175-185 ($242.48-256.34) per tonne on Friday, narrowing from ?175-190 per tonne a week ago.
UK dockside prices have dropped by ?10 per tonne over the week after an average drop of ?15 per tonne the week before, sources said.

"The drop seems reasonable considering a similar drop in cut grades delivered into domestic steelmakers in the UK over the week," one industry source...

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