W. Coast container scrap tags drop

Apr 12, 2012 | 02:59 PM | Sean Davidson

Tags  ferrous scrap exports, heavy melt, scrap export prices, Sean Davidson

NEW YORK — Export prices for containerized ferrous scrap on the West Coast have followed weaker bulk sales, dropping as much as $10 per tonne this week vs. last week.

Weaker demand from Taiwan and a large buildup in inventory by a major bulk exporter has led to the weakness, market participants said.

One day after AMM confirmed a Chinese consumer had booked two bulk cargoes at prices that were down $10 per tonne to $460 per tonne c.f.r. for an 80/20 mix of No. 1 and No. 2 heavy melting scrap (AMM, April 12), exporters of containerized scrap said their market had taken a similar hit.....

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