Ferrous scrap export tags lift as demand rises
Dec 20, 2011 | 04:00 PM
| Lisa Gordon
PITTSBURGH Decembers scrap export market is bubbling, with East Coast exporters attempting to fill orders as quickly as possible and West Coast exporters seeing strong demand from the Pacific Rim.
Demand from Turkey has driven East Coast scrap prices up about $20 per tonne this month as the scrap-short country needs material as quickly as possiblein some cases, within 30 dayssources said. About 21 cargoes have been sold to Turkey, including 10 from the United States.
"There is some caution that the market has been too saturated and there could be a short-term regression of prices. This could happen, but I think the demand in Turkey and low inventory levels will prevent this from happening," said an East Coast exporter at a deep-sea port.....
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