No. 1 heavy melt scrap exports hit record high
Aug 03, 2005 | 03:44 PM
| Michael Marley
U.S. exporters of No. 1 heavy melting steel scrap boosted their shipments of the bellwether grade of cut ferrous scrap by almost 35 percent in May to the highest monthly volume in nearly a decade.
Shipments to foreign steel mills and foundries climbed to 279,838 tonnes, according to the latest figures from the U.S. Commerce Department, up from 208,096 tonnes in April and the highest one-month total since August 1995.
Turkey provided the biggest push in May, taking almost 100,000 tonnes of No. 1 heavy melt and another 3,000 tonnes of No. 2 heavy melt and bonus grade (5-foot plate and structural scrap), all from export yards on the U.S. East Coast. Although the Turkish mills were absent from the U.S. market in April, they have taken close to 400,000 tonnes of No. 1 heavy melt from U.S. suppliers in the first five months....
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