UK STEEL SCRAP WEEKLY: Market extends stability, sees possible July rollover

The inter-merchant spot price for light iron scrap in the UK was unchanged in the week to Friday June 26, continuing the stability seen last week amid low-key but steady trading and little change in export prices, trade sources said.

There was also some market expectation that monthly delivery settlement prices would be rolled over after the conclusion of negotiations due to start next week.
Trade sources said that UK scrap consumption was steady enough to support such a move, in line with export demand into Turkey and the Indian subcontinent from Europe, as well as a drop in scrap collections in such sectors as car scrappage and demolition in recent months.

Fastmarkets' weekly price assessment for steel scrap 5C, loose old light, domestic, delivered inter-merchant, UK, was ?80-90 ($99-112)...

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