Ferrous scrap export prices fall further

Oct 01, 2012 | 01:39 PM | Sean Davidson

Tags  ferrous scrap, heavy melt, scrap exports, AMM index, bulk scrap, Sean Davidson

MUNICH — U.S. bulk ferrous scrap export prices lost further ground as exporters implemented cuts to secure volumes.

At least eight bulk cargo sales have been concluded with Turkey, mainly from the East Coast but a few deals were out of the Gulf Coast and Puerto Rico, sources told AMM.

Export prices to Turkey slipped gradually during the past week as buyers for Turkish mills took advantage of anticipated weakness in the U.S. domestic market.

Mounting buyer-side pressure resulted in a handful of deals at the end of last week at between $365 and $367 per tonne, depending on port of origin and vessel size, for an 80/20 mix of No. 1 and No. 2 heavy melting scrap.....

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