Flurry of bulk steel scrap exports lifts tags by $5/T

Nov 28, 2011 | 04:32 PM | Sean Davidson

Tags  ferrous scrap exports, ferrous scrap prices, steel scrap, Sean Davidson

NEW YORK — U.S. ferrous scrap exports picked up in hectic pre-Thanksgiving dealmaking, with up to 10 bulk cargoes reportedly shipped before the long holiday weekend.

Reports of an East Coast deal brokered in the past week indicate bulk tags rose as much as $5 per tonne from Nov. 21, although the delivery terms were not disclosed.

Several sources said a 35,000-tonne shipment of an 80/20 mix of No. 1 and No. 2 heavy melting steel scrap was sold to Turkey at $427 per tonne c.f.r., while 5,000 tonnes of shredded scrap at $432 per tonne c.f.r. completed the shipment.....

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