No conclusion achieved during CSC and EMR negotiations

No conclusion achieved during CSC and EMR negotiations

The scrap tender held by Taiwan's China Steel Corporation's (CSC) on January 7, 2003, was previously reported by SteelOrbis, where a sharp increase in the international prices was observed. After receipt of bids submitted for the tender, CSC went into negotiations with EMR upon its offer of $175/mt offer for 100% bonus grade material ex Europe. However, SteelOrbis understand that the two companies failed to reach an agreement as a result of these negotiations and no fixture has been concluded. For this reason, it is highly expected that CSC announces a new tender for steel scrap purchase in the coming dates for a cargo with arrival April 2003. Please click here to see the details of the tender held on January 7, 2003.