Prices for inter-merchant light iron scrap in the UK market were unchanged during the week to Friday October 23 on tight domestic supply and a pick-up in export demand to deep-sea destinations, industry sources told Fastmarkets.
Scrap coming into yards was reported to be down about 40% year-on-year and there is healthy demand from British steelmakers since August because steel production has picked up.If export demand persists into November, then suppliers are confident that monthly price losses to British steelmakers can be recovered and even gained over in delivery settlements in November from October. Monthly delivery contract talks are due to start in the first week...