London 25 January 2011 14:27
MB’s Ferrous Scrap Index cfr Turkey stabilized at $497.15 per tonne on an HMS 1&2 (80:20 mix) basis on Tuesday, when a US-origin cargo was booked by a Turkish mill.
Tuesday’s calculation was $1.51 higher than Monday’s figure, after the index had fallen for five days in a row.
One Turkish mill booked a US-origin cargo comprising 18,000 tonnes of HMS 1&2 (80:20 mix) at £$500 per tonne cfr, 20,000 tonnes of shredded material at $505 on the same terms and a further 2,000 tonnes of bonus grade at $510.
Soon afterwards a European recycler offered 32,000 tonnes of HMS 1&2 (70:30 mix) at $485 per tonne cfr.
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