The inter-merchant spot market for light iron scrap in the UK dropped by 11.1% in the week ended Friday February 7, with domestic prices broadly reflecting similar moves in the European export markets to Turkey and the Indian subcontinent over the same period, sources have told Fastmarkets.
Fastmarkets' weekly price assessment for steel scrap 5C, loose old light, domestic, delivered inter-merchant, UK, was ?70-90 ($91-117) per tonne on Friday, down from ?85-95 per tonne a week earlier."Of course, the coronavirus [outbreak in China] is having an effect on the international steel scrap market, but there is also the influence of the Turkish market," one UK-based...