Ferrous scrap exporters expect tag rebound
Nov 14, 2011 | 06:42 PM
| Sean Davidson
NEW YORK U.S. ferrous scrap exporters are expecting a price rebound this week as Turkish buyers return to the market from a week-long religious holiday and some sales to Far East Asian markets strengthened by up to $10 per tonne in the past week.
East Coast exporters reported a dull week, with no bulk sales to Turkey and thin volumes of containerized scrap shipments to India, but West Coast exporters had a relatively busier week, with four bulk shipments as well as container shipments mainly to South Korea and Taiwan.
A large exporter said that Southeast and Far East Asian consumers kept trading alive, pushing U.S. export numbers higher from the previous week.
"The main action is in the Far East, which has moved up with business over $430 per tonne for heavy melt scrap to Southeast Asia. Taiwan containers went up about $10 per tonne to $405 for shredded scrap and $400 for heavy melt scrap," he said. U.S. exporters have raised offers by $10 per tonne this week after those trades, he added.....
To access AMM's full content, please log in below. If you do not have an AMM account, we invite you to take a free trial or subscribe below.
Already a registered amm.com user?
Access to amm.com editorial content is granted only to paid subscribers and trialists. If you do not have an active account in your own name, please either subscribe or take a trial and you will have instant access to amm.com content. Sharing your login credentials with individuals who are not subscribers represents a violation of AMM copyright.
Every morning, every minute no matter how often you follow the markets, there's an AMM subscription to fit your needs.
Not sure if you are ready to invest in a subscription right now? Take a free, no-obligation trial. Start your free trial today.