Ferrous scrap exports surge as prices slump

Nov 07, 2011 | 05:21 PM | Sean Davidson

Tags  ferrous scrap exports, ferrous scrap prices, Sean Davidson

NEW YORK — U.S. ferrous scrap exporters logged a busy week of trade, with bulk cargo exports expected to enter the double digits by Wednesday.

Market sources said at least five East Coast deep-sea vessels were shipped to Turkey at around $425 per tonne c.f.r. for an 80/20 mix of No. 1 and No. 2 heavy melting steel scrap and $430 per tonne c.f.r. for shredded scrap. Prices since last week indicate a $5-per-tonne drop in export tags and are in line with market expectations, sources said.....

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