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Scrap Connection, the electronic platform for physical trading ofcontainerized scrap, listed its first transactions Thursday as it formallylaunched with a ceremony on the trading floor of the Amsterdam StockExchange, a company source said Monday.

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The value of the material listed is around $850,000, Chris Yerbey of theplatform told Platts. The platform opened July 2, he said.

He did not comment on the price/mt of the material or the amount ofvolume involved.

The platform initially started with trading of ferrous scrap and willexpand into aluminium in two-three months.

It will handle exports from the US, UK, Netherlands and Belgium going toIndia, Pakistan and Taiwan, with scrap processors and steel/aluminiumfoundries and mills the main clients.

To encourage liquidity the average size of trades will be low in thebeginning.

"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 transactionvolume of around $250 million.

The platform gets commission on trades, currently equating to around1-2% of monthly transaction volumes.

--Colin Richardson; colin_richardson@platts.com
--Edited by Jonathan Fox, jonathan_fox@platts.com