US ferrous scrap export tags lose more ground

Sep 24, 2012 | 04:09 PM | Sean Davidson

Tags  ferrous scrap, export prices, scrap sales, bulk cargoes, AMM Ferrous Scrap Export Index, Turkish buys, Sean Davidson

NEW YORK — U.S. ferrous scrap export prices for bulk shipments shed about 2 percent this past week after buyers successfully took advantage of weak market sentiment.

The number of bulk cargo sales concluded to Turkey last week has climbed to four. Two of those were sold off the East Coast, while the others were out of the Gulf Coast ports of Houston and New Orleans, according to market participants (amm.com, Sept. 21).

Both East Coast sales were reportedly transacted at $370 per tonne c.f.r. for an 80/20 mix of No. 1 and No. 2 heavy melt. Of the two, one cargo sold early last week, while the second was sold late in the week to a destination that will attract slightly higher freight than the first sale. The second cargo will comprise 35,000 tonnes of HMS 1&2 (80:20) and 10,000 tonnes of shredded scrap, one source said.....





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