W. Coast container export pricing takes dive
Sep 11, 2012 | 12:54 PM
| Sean Davidson
CHICAGO U.S. West Coast export prices for containerized ferrous scrap appear to be in free-fall, tumbling nearly 13 percent in the past 10 days amid anemic demand and frail iron ore prices. Further declines are anticipated.
Exporters have responded with expediency and cut prices for scrap brought into their facilities by near-identical levels.
On Monday, at least one exporter in northern California dropped buying prices at its yards by $15 per gross ton, for a combined $30 drop since the start of the month.
In southern California, an exporter lowered its buying prices between $30 and $40 per ton during the same period, depending on grade. The exporter reduced prices by $20 per ton for all grades on Sept. 6, barely a week after announcing a $10 decline for shredder feed grades and $20 for all other scrap (amm.com, Aug. 30).....
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