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DAILY SCRAP REPORT: Enquiries pick up as mills try to second-guess European sellers

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Metal Bulletin’s Daily Ferrous Scrap Index was close to unchanged at $448.64 per tonne cfr Iskenderun on an HMS 1&2 (80:20) basis on Friday May 4, from $448.49 a day earlier.

The only confirmed sales this week have been for Black Sea transactions, with the latest being a 4,000-tonne Russian cargo of A3 selling at $435 per tonne cfr Marmara.

Enquiries increased towards the end of the week, but mills were unsure of a suitable price level to tempt European buyers into selling, traders said.

“It is still quiet. They want to buy, but they are not sure about the prices,” a trader said.

“It is the same price – $450 – for US [material], but I don’t know about Europe, I have not heard of any offers,” a second merchant said.

“It seems to be a bit quiet. There are a lot of enquiries, though,” a European merchant said.

Daniel Gleeson
dgleeson@metalbulletin.com
Twitter: @dangleeson_mb

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