News and Events

After booking a series of cargoes from Brazil and Ukraine at the end of September and first half of October, US scrap buyers stepped out from the market, indicating much lower target prices, Kallanish observers. Those bookings, peaking at around $550/tonne cfr Nola for Ukrainian material, drove up sellers' expectations to settle at $500-520/t fob for Brazilian sellers, amid no new material available from Ukraine. The shortage, readily propagated by suppliers