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Heavy ferrous scrap prices in China could stabilise and begin to edge up soon, as Chinese steel mills face the need to restock for production.
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Ferrous scrap offers into Southeast Asia have risen by $10-20 per tonne as traders expect a seasonal tightening in supply
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Weaker terminal markets hit secondary aluminum alloys this week, while most alloys shed a cent.
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Aluminum scrap exports fell modestly in September, retreating from the three-year high set the previous month.
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TMS International Corp.’s mill services operation in Jewett, Texas, has been recognized for its environmental performance after successfully implementing a plan to control slag emissions and conserve water during the driest 12-month period in more than a century.
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A new ordinance has been enacted in a Michigan municipality making it illegal to remove recyclables from the curbside.
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The Washington Parish Council in Louisiana has adopted an ordinance for the placement, construction and operation of scrapyards.
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Prices for ferrous shredded scrap imported into India fell slightly this week, attracting more interest from buyers in need of containerised shipments.
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Metal Bulletin’s Daily Ferrous Scrap Index cfr Iskenderun increased to $424.69 per tonne on an HMS 1&2 (80:20) basis on November 29, up from $422.99 a day earlier.
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Recycler Natural Blue Resources Inc. has been sued for allegedly shorting a scrap trader of more than half the material it paid for, and also faces another lawsuit from a couple alleging the company violated the Racketeer Influenced and Corrupt Organizations (RICO) Act when the company failed to repay a loan.
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Four months after increasing his stake in Commercial Metals Co. (CMC), investor Carl Icahn made a formal move to acquire the entire company Monday.
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U.S. ferrous scrap exports picked up in hectic pre-Thanksgiving dealmaking, with up to 10 bulk cargoes reportedly shipped before the long holiday weekend.
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The Omaha (Neb.) City Council has officially amended its existing ordinance to prohibit recyclers from accepting or possessing manhole covers and sewer grates effective Jan. 4, 2012.
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Police in Clearwater, Fla., intend to crack down on surging metal thefts with a new initiative targeted at scrap haulers.
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Metal Bulletin’s Daily Ferrous Scrap Index cfr Iskenderun rose to $422.99 per tonne on an HMS 1&2 (80:20) basis on November 28, up from $415.63 at the end of last week.
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Metal Bulletin’s Daily Ferrous Scrap Index cfr Iskenderun rose to $415.63 per tonne on an HMS 1&2 (80:20) basis on November 25, up from $413.94 the day before as some bullish US offers came into the market.
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Inter-merchant prices for 18/8 stainless steel solids scrap dropped by around £10-15 ($15.50-23) per tonne this week on falling London Metal Exchange nickel prices, merchants told Metal Bulletin.
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Ferrous scrap prices into Spain started to increase this week as a few more buyers started looking for cargoes, market participants told Metal Bulletin.
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Metal Bulletin’s Daily Ferrous Scrap Index cfr Iskenderun rose to $413.94 per tonne on an HMS 1&2 (80:20) basis on Thursday, up from $412.63 on Wednesday as buyers reiterated higher US offers and started discussing deals with European suppliers.
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UK secondary aluminium prices were unchanged on Wednesday, November 24 as scrap buyers found greater resistance to falling prices after movements in the exchange rate reopened other markets.
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Several export yards on the East and West coasts have raised ferrous scrap buying prices by at least $20 per gross ton this past week, but the improved offers might not prove effective in securing volumes, market participants told AMM.
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Standard & Poor’s (S&P) has raised its corporate credit rating for Tube City IMS Corp. and removed the company from its watch list.
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Harsco Corp. has landed a seven-year contract valued at more than $50 million to provide mill services for a Saudi Arabian mill to be commissioned in the first quarter of 2012.
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A top executive of Severstal North America Inc., which has invested more than $1.3 billion over half a decade to construct one of the world’s most technologically advanced mini-mills in Columbus, Miss., conceded that despite the 10-figure outlay, the electric furnace (EF)-based flat-rolled facility is missing a pivotal component.