Bulk ferrous scrap export tags to Turkey inch up

Jul 11, 2012 | 02:28 PM | Sean Davidson

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

NEW YORK — U.S. bulk ferrous scrap export prices to Turkey inched slightly higher after confirmation of two sales late last week indicated a modest increase.

Although no sales have been reported so far this week, AMM received confirmation Wednesday of a bulk cargo shipped from the East Coast to Turkey and another shipped out of New Orleans late last week.

Market participants in the United States and Turkey said the cargo sold off the East Coast went for $390 per tonne c.f.r. for 40,000 tonnes of a 90/10 mix of No. 1 and No. 2 heavy melt and 5,000 tonnes of shred. The cargo reportedly will ship at between $2 and $4 additional freight due to its final destination.....

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