No. 1 heavy melt exports jump 52%

Oct 27, 2009 | 08:30 AM | Michael Marley

Stronger sales to several Asian and Mediterranean countries boosted U.S. exports of No. 1 heavy melting steel scrap by 52 percent in August.

Shipments to foreign steelmakers and foundries climbed to 608,628 tonnes in August from 400,249 tonnes the previous month, the latest U.S. Commerce Department figures show.

Although shipped in August, much of the scrap was actually ordered a month or two earlier, when the offshore scrap market was stronger. In recent weeks, prices and shipments of all ferrous grades have declined.....

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