UK inter-merchant spot prices for light iron scrap increased in the week to Friday August 21 on tight availability, due to falling scrap generation in recent months while domestic and export demand has remained steady, sources told Fastmarkets.
Fastmarkets' weekly price assessment for steel scrap 5C, loose old light, domestic, delivered inter-merchant, UK was ?95-105 ($125-138) per tonne on Friday, up from ?85-95 per tonne on August 14. Some sources said offer prices were as high as ?110 per tonne in dockside areas where domestic trade competes with export business."UK light iron [prices have] increased by ?5 per tonne, not necessarily a straightforward market increase, but more because of the shortage of material and light iron scrap being mixed into other grades,"...