Europe ferrous prices rising as mart awaits winter freeze

Oct 29, 2004 | 10:33 AM | Philip Shawcross

European ferrous scrap prices for export and domestic markets are strengthening as winter's cold weather threatens to reduce the flow of scrap into processors' yards and Europe's steel mills continue to demand melt material.

Exporters are finding it difficult to obtain scrap and see collection prices rising steeply. "(Scrap is) not coming in as we would want. All the domestic mills are taking it," a Dutch exporter said.

The last large ferrous scrap export shipment to leave Rotterdam, the Netherlands, went to a Spanish steelmaker in early October at 220 to 225 euros ($282 to $288.50) a tonne delivered. It was a mixed cargo of No. 1 and No. 2 heavy melting steel, and its freight charges were said to be 30 euros ($38.50) a tonne. That is equivalent to a $250-a-tonne shipping point for scrap at the....

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