Research

Forecasts and market analysis based on price assessments from Fastmarkets MB and Fastmarkets AMM

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October 2008 | Steel Raw Materials


Prices fall in Rotterdam: European Highlights


Prices in late October stood at levels not seen since January 2006, with HMS No.

Prices in late October stood at levels not seen since January 2006, with HMS No.1 seeing limited trading at $200/tonne fob Rotterdam; meanwhile, shredded material is trading at $220/tonne fob Rotterdam. Earlier in October, European scrap prices were reported to be holding up while global prices were plummeting, but this proved to be the result of a compete lack of transactions upon which to base a price. Trades are now reported to be taking place, but at greatly reduced prices. Several mills are taking a loss on production at steel price levels now, especially as many are using raw materials purchased in...

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