Scrap offer prices into SE Asia drop to $400-420 cfr
Nov 15, 2011 | 11:01 PM
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Ferrous scrap offers into Southeast Asia fell to a current-year low this week as demand showed few signs of reviving.
Offers for HMS 1&2 (80:20 mix) in containers from Europe, the USA and Africa are at $400-420 per tonne cfr, down from $405-440 per tonne cfr two weeks ago.
“Prices are falling every week. Two months ago, they were at $480 per tonne cfr,” a mill official in Indonesia said.....
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