13 Jan 2011 Last updated at 07:53:07 GMT

European steel scrap prices rise to US $500 per ton

By Scrap Monster
The export prices of European steel scrap kept increasing that the price of shredded scrap is close to US$500/ton FOB Rotterdam, up by US$25/ton from last week.

However, most distributors are waiting for higher prices for selling, expecting the export price of shredded scrap would go up to US$530~550/ton FOB in next two weeks, according to scrap traders. This might compel Turkish buyers to halt their purchasing.

So far, the US suppliers reportedly don't want to export the shredded scrap to Turkey with the price below US$520~535/ton CFR. (Courtesy: www.yieh.com)

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