Scrap export prices deteriorate further
Sep 10, 2012 | 03:34 PM
| Sean Davidson
CHICAGO U.S. ferrous scrap export prices for bulk sales dropped more than 4 percent this past week on weak demand and bleak global cues.
East Coast exporters logged a bulk sale Friday at a $5-per-tonne price drop compared with a sale last Wednesday, reflecting the deterioration in market sentiment.
On Friday, market participants in the United States and Turkey reported a bulk sale by one U.S. exporter to a Turkish mill. The sale was reportedly concluded at $388 per tonne c.f.r. Turkey for an 80/20 mix of No. 1 and No. 2 heavy melting scrap and $393 per tonne for shredded scrap. The sale indicates a $5-per-tonne price drop from last Wednesdays saletaking into account a premium on that saleand is about $20 per tonne lower than prior U.S. sales to Turkey (amm.com, Aug. 17).....
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