Metal Bulletins 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
$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 dont 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.