East Coast ferrous scrap exports sink $10/tonne

Jun 08, 2012 | 03:48 PM | Sean Davidson

Tags  ferrous scrap, exports, Sean Davidson

NEW YORK — East Coast ferrous scrap export prices have dropped $10 per tonne on bulk shipments to Turkey in the past week despite good demand from Turkish mills.

Market participants reported seven bulk cargo sales off the East Coast to Turkey.

Sales of an 80/20 mix of No. 1 and No. 2 heavy melt scrap started last week at between $398 and $400 per tonne c.f.r. Turkey but dropped to $390 per tonne by Wednesday, sources said. The last trades to be confirmed by participants in the United States and Turkey were three mixed cargoes sold at $390 per tonne c.f.r. for 80/20 heavy melt, $395 per tonne for shredded steel scrap and $400 per tonne for plate....

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