US ferrous export prices under pressure

Oct 08, 2012 | 05:42 PM | Sean Davidson

Tags  scrap, ferrous scrap, scrap exports, scrap prices, AMM East Coast Export Index, AMM West Coast Export Index, Sean Davidson

NEW YORK — U.S. East Coast ferrous scrap bulk exporters continued their stalemate over new price levels with buyers for Turkish mills, rendering the market inactive.

Exporters and offshore consumers waited patiently for U.S. mills to settle their buying programs for October (, Oct. 2). When domestic trading was complete, offshore consumers learned that U.S. steel mills in markets that ship both domestically and abroad had indeed followed the recent drop in export tags but hadn’t exceeded it.

In crucial supply markets, such as the Mid-Atlantic region, exporters and domestic mills are now competing head to head for key grades like heavy melt and shredded scrap.....

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