Turkish scrap sale hits E. Coast export Index

Nov 19, 2012 | 05:36 PM | Sean Davidson

Tags  scrap, ferrous scrap, scrap prices, AMM Index, AMM West Coast Ferrous Scrap Index, AMM East Coast Ferrous Scrap Index, Sean Davidson

NEW YORK — U.S. bulk ferrous scrap export prices to Turkey lost some ground this past week after a lone sale sent values down a little more than 2 percent.

Market participants said the sale comprised a mixed cargo carrying between 25,000 and 30,000 tonnes of heavy melt, shredded and bonus grade scrap.

Sources said the sale was concluded at $410 per tonne c.f.r. Turkey for an 80/20 mix of No. 1 and No. 2 heavy melt. The delivered price is unchanged from the last confirmed sale of more than 40,000 tonnes to Turkey, transacted Nov. 9. However, higher freight rates on last week’s sale, given a difference in the volume and vessel type, sent f.o.b. values down more than $8 per tonne.....

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