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British light scrap iron prices held steady for 8 weeks

20 Aug 2019 16:37 reported by Blanca

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Due to the sluggish automobile manufacturing and construction industry, the scrap rate had narrowed this summer, and the supply of scrap was relatively tight, resulting in a very stable market in the monthly market.

At present, the British light scrap iron market was in a stable state for 8 weeks. Due to the interaction between supply austerity and slowing demand, the market price had been running stably for more than 20 years.

Professionals pointed out that the current price seemed to be stable. The weak pound was conducive to export demand, but the overall prices in the steel industry slowed down in order to cope with the seasonal impact and profit balance.

August monthly consumer delivery was flat for three consecutive months, reflecting the stability of the UK light steel market.

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