AMM scrap index dips as no bulk sales transpire

May 29, 2012 | 01:11 PM | Sean Davidson

Tags  bulk exports, ferrous scrap, AMM index, Sean Davidson

ROME — East and West Coast ferrous scrap exporters failed to book any bulk cargo sales last week, leading AMM’s 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 week’s $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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