No. 1 heavy melt scrap exports sink to 5-month low

Nov 30, 2007 | 05:56 AM | Michael Marley

U.S. exports of cut ferrous scrap dipped 16.6 percent in September despite a spike in the tonnage shipped to Turkey, the leading offshore market for many East Coast scrap shippers.

Shipments of No. 1 heavy melting steel scrap slumped to 257,748 tonnes, down from 308,959 tonnes in August to the lowest one-month total since April, when exports totaled just 165,117 tonnes, according to U.S. Commerce Department figures.

Although shipments were down in September, year-to-date exports of 2,454,955 tonnes remained 23.8 percent ahead of 1,983,676 tonnes in the first nine months of last year and 5.4 percent higher than 2,330,026 tonnes in the same period in 2005.....

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