UK STEEL SCRAP WEEKLY: Price range widens downward on quieter export trade

The light iron scrap market in the United Kingdom widened in its price range during the week to Friday September 3, with the low end dropping ?5 ($7) per tonne. And quiet trading in European deep-sea export markets weighed on British prices, according to trade sources.

Fastmarkets' weekly price assessment for steel scrap 5C, loose old light domestic, delivered inter-merchant, UK was ?170-185 ($235-255) per tonne on Friday, widening downward from ?175-185 per tonne a week earlier.
The UK export steel scrap market typically influences domestic British prices; exports account for more than 80% of annual steel scrap market sales in the UK, which typically generates around 10 million tonnes. UK scrap trade sources said container market prices were firm at present, but container availability and commitments on tonnage were still limiting volumes.

"We had managed some price reductions in the...

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