E. Coast ferrous scrap tags hold as volumes slip

Apr 13, 2012 | 04:39 PM | Sean Davidson

Tags  ferrous scrap export prices, heavy melt, shredded steel scrap, plate & structural, Sean Davidson

NEW YORK — U.S. East Coast ferrous scrap export prices held steady this past week despite lower volumes, with only two confirmed bulk cargo sales to Turkey.

Market participants noted a sale at a composite price of $457.50 per tonne c.f.r. for one bulk cargo containing an 80/20 mix of No. 1 and No. 2 heavy melt, shredded steel scrap, and plate and structural scrap.

A second cargo sold at $452 per tonne c.f.r. for 80/20 heavy melt, $457 for shredded and $462 for plate and structural scrap. The $452 price for 80/20 heavy melt indicates a sideways market compared with a week earlier, when bulk heavy melt sold to Turkey in a range of $451 to $453 per tonne c.f.r. (AMM, April 10).....

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