Speculation feeds ferrous scrap gains
Nov 19, 2008 | 10:58 AM
| Jana Marais
European ferrous scrap prices have moved higher in the past two weeks, but the upshift has been sparked by speculation rather than any sustained increase in export demand, according to market sources.
Turkish mills bought between 25 and 40 cargoes of ferrous scrap a week ago, prompting prices to double from levels of $130 per tonne, including cost and freight (c&f). European buyers have been "following the wave of Turkey," leading to price increases in markets such as the United Kingdom, Spain and Italy.....
To access AMM's full content, please log in below. If you do not have an AMM account, we invite you to take a free trial or subscribe below.
Already a registered amm.com user?
Access to amm.com editorial content is granted only to paid subscribers and trialists. If you do not have an active account in your own name, please either subscribe or take a trial and you will have instant access to amm.com content. Sharing your login credentials with individuals who are not subscribers represents a violation of AMM copyright.
Every morning, every minute — no matter how often you follow the markets, there's an AMM subscription to fit your needs.
Subscribe Now
Click Here
Not sure if you are ready to invest in a subscription right now? Take a free, no-obligation trial. Start your free trial today.
Take a Free trial
Click Here