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(AMM) Turkish buying prices for US, European ferrous scrap rise $20/T

July 29, 2010 - 22:25 GMT Location: PHILADELPHIA

KEYWORDS: Turkey , ferrous scrap

Ferrous scrap prices into Turkey shot up again this week as mills there booked more cargoes ahead of Ramadan, which is set to begin Aug. 11, market sources said.

Turkish buyers booked deep-sea cargoes from Europe and the United States, paying $15 to $20 per tonne more than the deals they sealed last week.

One U.S.-origin cargo of mixed shredded and an 80-20 mix of No. 1 and No. 2 heavy melting steel scrap sold at $361 per tonne c.f.r. Turkey.

Another deep-sea cargo from a recycler in northern Europe sold for $364.50 per tonne on the same terms. This parcel comprised 24,000 tonnes of shredded material and 10,000 tonnes of the 80-20 No.1 and No. 1 heavy...

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