UK STEEL SCRAP WEEKLY: Market stable on tight availability

The light-iron scrap market in the United Kingdom was steady during the week to Friday September 10, stabilizing losses from the week prior on persistent tight availability, despite slower export markets to deep-sea destinations, trade sources said.

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 September 10, unchanged from the previous week.
The general tightness of British scrap should limit discussion about potential price cuts for September deliveries to steelmakers.
"In terms of light iron scrap we are not seeing much price movement on the grade. Container prices are more buoyant and definitely coming into play in market dynamics," one major steel-scrap processor said.

"There just isn't enough light iron scrap around, and it is becoming increasingly obvious...

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