DAILY SCRAP REPORT: Index down as market starts to stir

 MB’s Ferrous Scrap Index cfr Turkey fell to $495.64 per tonne on an HMS 1&2(80:20) basis on Monday, as a cargo was booked at lower levels. 

The index fell $6.29 on Friday’s figure, as a confirmed booking was made at a lower level following a two-week hiatus, market participants said. 

One confirmed booking went through, with a Turkish mini-mill buying a 5,000 tonnes mixed-cargo of HMS 1&2 (80:20) mix and bonus material at an average cost of $487 per tonne cfr Aliaga, significantly below business booked at the beginning of January. 

There were numerous rumoured bookings, with Baltic-origin HMS 1&2 (80:20) material supposedly booked at $500 per tonne cfr, while a USA recycler was said to have sold a cargo at $500 per tonne cfr. 

A mill said to be involved denied having re-entered the deep-sea market though. 

“We haven’t booked a deep-sea for two weeks,” the mini-mill revealed.