UK STEEL SCRAP WEEKLY: Price range widens amid firm fundamentals

The price spread for UK inter-merchant light iron scrap widened over the week to Friday September 4, rising by ?5 ( ?$7) per tonne at the top end of the latest assessed range, with firm fundamentals and steady export demand encouraging active trading, industry sources told Fastmarkets.

Fastmarkets' weekly price assessment for steel scrap 5C, loose old light, domestic, delivered inter-merchant, UK, was ?95-110 ($126-146) per tonne on Friday, compared with ?95-105 per tonne previously.
British steel scrap supplies have tightened over the summer, with nationwide lockdown measures to combat Covid-19 resulting in a slump in the automotive and construction sectors. This had a knock-on effect on the scrap volumes arising from car scrappage and demolition projects.
Scrap volumes have also fallen in line with decreased consumer spending on white goods, meaning that fewer used products have been sent for scrap.

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