Supply of US scrap to China said tightening

Oct 18, 2012 | 12:05 PM |

Tags  West Coast scrap, heavy melting scrap, Shagang Group

SHANGHAI — U.S. scrap supplies from the West Coast have tightened up ahead of winter, and prices are expected to climb as a result.

"There are only a few cargoes available for booking from U.S. West Coast suppliers, and prices must have jumped from the recent deals we’ve done at around $370 per tonne c.f.r. for bulk HMS 1&2 (80:20)," a source in Shagang Group’s scrap department told AMM sister publication Steel First. "There is demand,....

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