Export prices steady but under pressure

Sep 04, 2012 | 04:37 PM | Sean Davidson

Tags  ferrous scrap, AMM Ferrous Scrap Export Index, heavy melt scrap, HMS, Sean Davidson

NEW YORK — A two-week lull in U.S. ferrous scrap exports to Turkey and the lack of any confirmed deals on the West Coast left prices in both regions unchanged Tuesday.

While Turkish mills returned to the market this week, no bulk deals were reported from either the United States or Europe.

The absence of any new trade left AMM’s East Coast Ferrous Scrap Export Index unchanged at $382.44 per tonne f.o.b. New York for an 80/20 mix of No. 1 and No. 2 heavy melt scrap. The East Coast Index has been flat for the past two weeks, with the last U.S. sale to Turkey for HMS 1&2 (80:20) booked in the $408- to $410-per-tonne range.....

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