Scrap export prices fall on cheap China deal

Apr 11, 2012 | 02:28 PM | Sean Davidson

Tags  scrap, ferrous scrap exports, China, South Korea, shred, heavy melt, Sean Davidson

NEW YORK — Ferrous scrap export prices on the West Coast have dropped $10 per tonne this week after two bulk cargoes were sold to China on Monday at a discount to the previous week’s range.

A large Chinese consumer confirmed reports by a number of West Coast exporters that two 30,000-tonne cargoes sold at $465 per tonne c.f.r. for shredded steel scrap and $460 per tonne c.f.r. for an 80/20 mix of No. 1 and No. 2 heavy melting scrap. The sale was $10 per tonne lower than last week’s bulk shipment of shredded scrap to Taiwan, which reportedly sold at $475 per tonne (AMM, April 10).....

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