Scrap sale to Turkey sparks mixed views

Oct 09, 2012 | 02:22 PM | Sean Davidson

Tags  ferrous scrap, HMS 1&2 (80:20), heavy melt, shredded scrap, scrap exports, scrap prices, Turkish scrap buy, Sean Davidson

NEW YORK — A weeklong stalemate in U.S. exports of ferrous scrap to Turkey was finally broken Tuesday.

Market participants confirmed that one exporter finalized a bulk sale into Turkey of 12,000 tonnes of an 80/20 mix of No. 1 and No. 2 heavy melt at about $363 per tonne c.f.r. and 13,000 tonnes of shredded scrap at $368 per tonne. Some said the composite price on the cargo was $365.50 per tonne, which roughly equates to the same levels.

However, U.S. exporters were quick to point out that the single sale late Monday or early Tuesday wasn’t reflective of an overall decline in prices, as larger exporters continue to hold out for $365 per tonne for HMS 1&2 (80:20) and one source saying that at least one exporter reportedly is quoting $367 per tonne and isn’t aggressive on sales.....

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