E. Coast export yards cut scrap buying prices

Sep 14, 2012 | 04:55 PM | Sean Davidson

Tags  ferrous scrap exports, scrap prices, heavy melt, shredded scrap, export buying prices, Sean Davidson

NEW YORK — East Coast ferrous scrap exporters have lowered buying prices for scrap delivered to their facilities following a decline in tags to Turkey, according to market participants.

An absence of Indian demand for containerized scrap has contributed to an overall weakening in export prices, sources said. Buyers and sellers of containerized scrap put U.S. offers for shredded scrap in a range of $405 to $415 per tonne c.f.r. Nhava Sheva, down as much as $20 from offers that hovered around $425 per tonne at the beginning of the month.

However, sources in the United States and India said no sales had been concluded even at $405 per tonne, with some buyers in India saying they would trade at $400 per tonne.....

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