E. Coast export prices rise on Turkey's return

Aug 13, 2012 | 04:05 PM | Sean Davidson

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

NEW YORK — A surge in bulk sales of ferrous scrap to Turkey sent East Coast export prices soaring over the past week, while West Coast exporters struggled to book meaningful sales.

Market participants reported seven bulk sales to Turkey during the past week, with prices rising nearly $30 per tonne.

Turkish buyers set the tone early last week when three cargoes were booked at around $415 per tonne c.f.r. Turkey (amm.com, Aug. 7). Sources have since confirmed four additional bulk sales since last Tuesday at similar levels, establishing a firm price level for an 80/20 mix of No. 1 and No. 2 heavy melt.....

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