Europe ferrous scrap mart quiets; exporters hold out for price uptick

Dec 07, 2007 | 09:05 AM | Ben Garside

Western European ferrous scrap exporters are withholding offers of new cargoes to Turkish steel mills because they believe prices will go higher.

About a week ago, a Western European export yard booked an order for 23,000 tonnes of shredded scrap and 5,000 tonnes of a 90-10 mix of No. 1 and No. 2 heavy melting steel scrap at an average price of $372 a tonne, industry sources said, about $10 a tonne higher than previous deals booked in late November. The cargo is slated for delivery in....

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