European scrap rebound said at risk

Dec 17, 2008 | 11:13 AM | Jana Marais

A shortage of ferrous scrap in Europe has the potential to lead to further price increases in January, but market participants warned that the recent revival in prices will not be sustainable unless traded volumes increase soon.

European ferrous scrap prices have recovered sharply since crashing in October, despite low demand from steel mills and export markets. In Italy, for example, prices "are still moving up week by week," with current prices for shredded near $300 a tonne delivered to the mill, one Italian merchant said. ....

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