No. 1 heavy melting exports reverse course

Nov 01, 2005 | 02:05 PM | Michael Marley

Weaker demand from several Asian buyers and less available material contributed to a 3.6-percent reduction in U.S exports of No. 1 heavy melting steel in August, ending three consecutive months of gains in offshore sales.

Shipments of No. 1 heavy melt dipped to 287,561 tonnes in August, down nearly 11,000 tonnes from the previous month and almost matching the tonnage shipped abroad in June, according to the latest statistics from the U.S. Commerce Department. Exports of the benchmark grade of cut scrap started a steady three-month climb in May, when they totaled 279,838 tonnes, and hit a near 10-year high of 298,454 tonnes in July.....

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