UK STEEL SCRAP WEEKLY: Price range widens upward on tight availability

The price range for light iron scrap in the UK widened upward during the week to Friday September 17, with major processors seeking to attract enough feedstock into their yards to keep their scrap-processing machines working cost-effectively, trade sources have said.

Fastmarkets' weekly price assessment for steel scrap 5C, loose old light, domestic, delivered inter-merchant, UK, was ?170-190 ($235-262) per tonne on Friday, from ?170-185 per tonne the previous week.
Steady demand for European shredded scrap from traditional deep-sea destination markets, such as the Indian subcontinent, has also shored up prices in the British market, sources said.

"We have, in fact, had to increase light iron scrap prices in a few cases to ensure we do not lose flows into our...

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