Ferrous export indices decline on weak sales

Jul 09, 2012 | 04:26 PM | Sean Davidson

Tags  ferrous scrap, AMM Ferrous Scrap Export Index, HMS 1&2 (80:20), Sean Davidson

NEW YORK — U.S. ferrous scrap export prices slipped a little over the past week following reports of five bulk cargo sales from the United States to Turkey.

Market participants said two bulk cargoes had traded from the East Coast, two from the Gulf Coast and one from Puerto Rico last week. No West Coast sales were reported.

The two East Coast shipments were a few dollars lower than previous sales, pushing AMM’s East Coast Ferrous Scrap Export Index down 0.6 percent Monday to $352.61 per tonne f.o.b. New York for an 80/20 mix of No. 1 and No. 2 heavy melting scrap from $354.66 a week earlier.....

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