Ferrous scrap exports fall 34% in Sept.
Nov 17, 2008 | 05:46 AM
| Michael Marley
U.S. exports of ferrous scrap plunged by almost 800,000 tonnes in September as the first signs of the midsummer ebbing of offshore demand registered in the tonnage shipped from domestic ports.
Exports totaled 1,518,847 tonnes in September, according to the latest figures from the U.S. Commerce Department, still well above the traditional 1-million-tonne-per-month pace but down sharply from the 2.3 million tonnes sent overseas in each of the previous four months.
Declining demand from Asian steelmakers accounted for much of the slide, while shipments to market leader Turkey rose by almost 35,000 tonnes from the previous month. Turkish mills took in 482,176 tonnes from U.S. suppliers during the month, up 7.7 percent from the 447,750 tonnes in August.....
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