Turkish buys lift ferrous scrap prices slightly

Oct 29, 2007 | 07:20 AM | Ben Garside

U.S. exporters sold two ferrous scrap cargoes to Turkish steelmakers last week, boosting prices between $2 and $3 a tonne, although much of the gain likely will be eaten up by higher ocean freight rates.

U.S. exporters sold an 80-20 mix of No. 1 and No. 2 heavy melting steel scrap at $345 a tonne, delivered to Turkey, and shredded scrap at $350 a tonne. Both cargoes are slated for November delivery, market sources said.....

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