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'The bookings have started' as Turkey books two more Fe scrap cargoes

June 17, 2010 - 13:01 GMT Location: London

KEYWORDS: turkey , ferrous , scrap , US , EU

Two Turkish mills have booked a deep-sea cargo of ferrous scrap each in the last couple of days, market participants told MB

The deals bring the total of deep-sea cargoes booked this week to seven. Prices for the last two cargoes were at...

All material subject to strictly enforced copyright laws. © Euromoney Institutional Investor PLC.

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Ferrous

May 24, 2012 00:29 Harsco renews three multiyear contracts in US
May 23, 2012 14:45 DAILY SCRAP REPORT: Index unchanged on lack of new offers
May 23, 2012 10:24 China halts scrap imports on weak domestic market
May 23, 2012 08:53 SE Asia scrap prices down $15-20 as buyers await market cues
May 23, 2012 00:35 US recyclers facing bankruptcy filings

Comment & analysis

EXPERT VIEW FROM ERNST & YOUNG: Horror week favours the brave

Seven days is a long time in the investment world, but last week must have felt longer than most.
COMMENT: When super-cycle poster child BHP Billiton trims its plans...

BHP Billiton is one of the poster children for the commodities super-cycle: a mining company whose immense upstream assets in copper and iron ore have fed the industrialisation of China since the early years of the 21st century and enabled it to return $52 billion to shareholders between 2001 and 2011.
LORD COPPER: There is nothing to fear after JP Morgan loss ...

So, here we go again. Another bank, another huge trade gone bad. This one doesn’t even appear to have been a case of rogue trading; a whole desk seems to have been operating with the full knowledge of the management and/or risk committee.