W. Coast scrap export prices said set to soften
Nov 14, 2012 | 04:37 PM
| Sean Davidson
NEW YORK A lone bulk ferrous scrap sale from the West Coast to China this week is encouraging, but it could be the last on the wave of higher prices as East Asian mills are poised to finish replenishing inventories, some market participants said.
A rush by mills in Taiwan and China to secure scrap after ending up short on inventories led prices to rise rapidly by $30 to $40 per tonne over the past few weeks, sources said.
The West Coast market has struggled to secure a steady flow of bulk exports over the past few months, relying instead on shipments of containerized scrap.....
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