Price weakness lifts ferrous exports in July

Sep 19, 2012 | 04:37 PM | Sean Davidson

Tags  ferrous scrap exports, Commerce Department, Sean Davidson

NEW YORK — U.S. ferrous scrap exports posted a modest gain in July as a rebound in Chinese demand and strong sales to Turkey helped negate volumes lost to an elusive South Korean market.

Ferrous scrap exports totaled 1,936,348 tonnes in July, according to the latest U.S. Commerce Department data, up 1.6 percent from 1,905,052 tonnes the previous month and 3.6 percent ahead of 1,868,280 tonnes shipped abroad in July 2011.

South Korean consumers logged the most significant tonnage drop as they shifted their attention to closer shores, taking in 152,416 tonnes from U.S. suppliers in July, down 44.4 percent from 274,316 tonnes in June and 22.1 percent below the July 2011 total of 195,685 tonnes.....

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