US sales help pull down ferrous export prices

Dec 09, 2005 | 10:19 AM | Ben Garside

Ferrous scrap export prices weakened by a few dollars a tonne after U.S. East Coast exporters picked up orders from Turkish steelmakers for two cargoes of cut scrap.

The Turkish mills paid $212 to $213 per tonne delivered for an 80-20 mix of No. 1 and No. 2 heavy melting steel. U.S. exporters booked separate sales to the Turks within the past week after European rivals turned down lower offers for their scrap.

Ocean freight costs from the U.S. East Coast to Turkey are $28 to $30 per tonne, while freight costs from such Dutch ports as Rotterdam are about $22 per tonne.....

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