China Steel books two cargoes as a result of the scrap purchase tender

China Steel books two cargoes as a result of the scrap purchase tender

The scrap purchase tender that was held by China Steel Corp. (CSC) in the last week of June, has now been completed. The winners to supply scrap to the Taiwanese mill under this tender are S. Norton and Midland. S. Norton last week refused to accept the counter bid by CSC. However now that the business is concluded S.Norton will supply one cargo of deepsea scrap to CSC. Both cargoes will be at a tonnage of 30'000 mts each. Composition of the scrap cargo to be supplied by S.Norton is Bonus/HMS NO.1 80/20. The unit price of bonus grade material is CIFFO $177.00/MT. Midland concluded the business for a 100% bonus cargo at a unit price of CIFFO $177.50/MT. Both cargoes are booked on September 2003 arrival basis.