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DAILY SCRAP REPORT: Index stable as trade halts for holidays

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Metal Bulletin’s Daily Ferrous Scrap Index was close to unchanged at $447.79 per tonne cfr Iskenderun on an HMS 1&2 (80:20) basis on Tuesday May 1, up from $447. 57 on April 30.

The majority of buyers and sellers were absent from the market on Tuesday, with many European countries and Turkey celebrating the Labour Day holiday on May 1.

A few more cargoes completed at the end of last week were heard late on Monday evening, though, at levels similar to the last completed sales.

A cargo of HMS 1&2 (80:20) and shredded was sold from the US east coast to a Turkish buyer in the south of the country at $450 per tonne cfr and $455 per tonne cfr, respectively.

A European cargo was also sold at $455 cfr for shredded, $460 cfr for P&S and $474 for automotive bundles, according to market participants.

Daniel Gleeson
dgleeson@metalbulletin.com
Twitter: @dangleeson_mb

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