US scrap export prices soar on Turkish return

Aug 07, 2012 | 05:33 PM | Sean Davidson

Tags  ferrous scrap exports, HMS 1&2 (80:20), Sean Davidson

NEW YORK — Turkish steel mills returned to U.S. docks this week and sent ferrous scrap export prices spiraling as three bulk cargoes traded in two days.

Market participants said that two exporters booked sales to three different Turkish mills at prices more than $20 per tonne above the last reported bulk sale.

One exporter reportedly sold a bulk cargo of a 90:10 mix of No. 1 and No. 2 heavy melt scrap and shredded scrap, with the HMS 1&2 (90:10) priced at $416 per tonne c.f.r. and the shred at $421 per tonne c.f.r.....

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