Asian cuts sink Sept. US ferrous scrap exports

Nov 16, 2012 | 12:13 PM | Sean Davidson

Tags  ferrous scrap, scrap exports, shredded, heavy melt, Commerce Department, Sean Davidson

NEW YORK — U.S. ferrous scrap exports plunged in September after critical southeast Asian markets cut back on buying due to unfavorable currency markets, poor demand from mills in the region and higher scrap prices.

Exports totaled 1,631,442 tonnes in September, down 21.6 percent from 2,080,456 tonnes the previous month and 21.7 percent below the 2,082,971 tonnes shipped abroad in September 2011, according to the latest U.S. Commerce Department data.....

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