Turkish scrap buys sink export prices $13/T

Sep 13, 2012 | 02:00 PM | Sean Davidson

Tags  ferrous scrap, heavy melting scrap, HMS, shredded scrap, plate and structural scrap, scrap prices, Turkish buyers, Sean Davidson

CHICAGO — U.S. ferrous scrap export prices to Turkey took a hit Thursday as prices tanked for a second consecutive week.

As many as nine new bulk cargo sales to the country were reportedly concluded as mills there look to benefit from a weakened U.S. market.

One U.S. exporter sold two bulk cargoes totaling 85,000 tonnes to a single consumer, market participants reported early Thursday. The cargoes will carry 55,000 tonnes of an 80/20 mix of No. 1 and No. 2 heavy melting scrap, with the remainder comprising shredded and plate and structural scrap. ....

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