Demand drives ferrous scrap export prices up
Apr 09, 2012 | 03:52 PM
| Sean Davidson
Tags
ferrous scrap exports,
heavy melt,
shredded steel scrap,
Sean Davidson
NEW YORK — Ferrous scrap export prices jumped between $5 and $10 per tonne last week, driven by sustained demand from Turkey off the East Coast and Taiwan off the West Coast.
East Coast exporters said bulk cargo sales to Turkey of the 80/20 mix of No. 1 and No. 2 heavy melting steel scrap were in a range of $451 to $453 per tonne c.f.r., up between $8 and $10 from a week earlier. Sources said freight had stayed steady at around $26 per tonne, but some said freight could soften by up to $2 per tonne in coming weeks.
Contradicting reports of East Coast bulk cargoes to Turkey suggested anywhere between four and eight cargoes sold last week. AMM confirmed four sales early in the week at prices that were up $8 per tonne before rising an additional $2 by Thursday.....
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.
Subscribe Now
Click Here
Not sure if you are ready to invest in a subscription right now? Take a free, no-obligation trial. Start your free trial today.
Take a Free trial
Click Here