E. Coast ferrous exports at lull, pickup eyed

Aug 31, 2012 | 04:15 PM | Sean Davidson

Tags  ferrous scrap exports, Turkish demand, heavy melt scrap, shredded scrap, scrap prices, Sean Davidson

NEW YORK — U.S. ferrous scrap exports to Turkey logged a second consecutive week of inactivity, sources told AMM.

No bulk sales were reported from the U.S. East Coast and only two large cargoes were shipped to Turkey from Europe, but market participants said Friday they expected trading to resume in the coming week.

"Aug. 30 was a national holiday in Turkey, and many people took a long weekend due to uncertainty in the market," one source said. "U.S. sellers are saying that the market will go up just to (make current offer prices seem) attractive, but there is no specific reason for an increase."....

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