AMM scrap index dips as no bulk sales transpire
May 29, 2012 | 01:11 PM
| Sean Davidson
ROME East and West Coast ferrous scrap exporters failed to book any bulk cargo sales last week, leading AMMs Ferrous Scrap Export Index to drop slightly.
The index publishes a weekly price for an 80/20 mix of No. 1 and No. 2 heavy melting steel scrap separately for the East and West Coasts, based primarily on bulk business transactions.
The East Coast index fell to $402.87 per tonne f.o.b. New York, down 0.8 percent from the previous weeks $405.94 per tonne, while the West Coast index shed 1.1 percent to $408.50 per tonne f.o.b. Los Angeles from $413.04 per tonne a week earlier.....
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