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Ferrous offers into SE Asia up $5

July 26, 2010 - 00:00 GMT

Moving up - Prices rise for second consecutive week as demand returns

Ferrous scrap offers into Southeast Asia have risen for the second consecutive week, by $5 per tonne cfr. Offers of HMS 1&2 (80:20 mix) in containers from Europe, the USA, Middle East and Africa were at $365-370 per tonne cfr, up from $360-370 cfr previously, sources in Indonesia, Malaysia, Singapore and Vietnam said. “Suppliers’ offers have gone up internationally. Demand has warmed up too after buyers stayed away from the market for two months,” a trader in Ho Chi Minh said. Bulk offers were...

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