Ferrous export tags fall amid new Turkish buys

Sep 25, 2012 | 04:03 PM | Sean Davidson

Tags  ferrous scrap exports, bulk exports, Sean Davidson

NEW YORK — U.S. ferrous scrap export prices dropped another $5 per tonne Tuesday as market participants reported new sales to Turkey.

Several sources said that two consumers had picked up three U.S. bulk cargoes at about $365 per tonne c.f.r. Turkey for an 80/20 mix of No. 1 and No. 2 heavy melt, down from $370 in last week’s sales of at least four bulk cargoes off the U.S. East and Gulf coasts (amm.com, Sept. 24).

One cargo of about 25,000 tonnes will comprise HMS 1&2 (80:20) and shredded scrap, which sold at $365 and $370 per tonne, respectively.....

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