Recent sales to Turkey bring stability to European ferrous

Oct 14, 2005 | 05:34 AM | Ben Garside

Recent sales of ferrous scrap to steelmakers in Turkey indicate European export prices have hit bottom and might be poised to rise again, sources said last week. Several European exporters said they are holding out for a $10-a-tonne increase.

Two cargoes consisting of a 60-40 mix of No. 1 and No. 2 heavy melting steel scrap were sold last week from the Netherlands and Belgium at $215 per tonne delivered to Turkey-the same price as a cargo sold the previous week from Belgium, which marked a $30-per-tonne reduction from the price levels seen in mid-September.....

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