A 10,000-tonne P&S cargo from Europe was heard sold to a major eastern China steel mill at $460-470 per tonne cfr China this week, although the rumored buyer did not confirm this. P&S is the name given to the scrap grade known as HS in Japan and as heavy scrap in China.
Freight fixture lists have also showed an inquiry for a 10,000-tonne cargo loading in Rotterdam for a March shipment to a port in Shanghai or Ningbo.
"Everyone is wild about China," a trader source...
