Scrap Connection, the electronic platform for physical trading of
containerized scrap, listed its first transactions Thursday as it formally
launched with a ceremony on the trading floor of the Amsterdam Stock
Exchange, a company source said Monday.
The value of the material listed is around $850,000, Chris Yerbey of the
platform told Platts. The platform opened July 2, he said.
He did not comment on the price/mt of the material or the amount of
The platform initially started with trading of ferrous scrap and will
expand into aluminium in two-three months.
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It will handle exports from the US, UK, Netherlands and Belgium going to
India, Pakistan and Taiwan, with scrap processors and steel/aluminium
foundries and mills the main clients.
To encourage liquidity the average size of trades will be low in the
"Our target is $150,000/transaction in the first couple of months,
increasing to $250,000 over the next few months," Yerbey said.
By next year Scrap Connection hopes to reach an annualized transaction
volume of around $250 million.
The platform gets commission on trades, currently equating to around
1-2% of monthly transaction volumes.
--Colin Richardson; firstname.lastname@example.org
--Edited by Jonathan Fox, email@example.com