US scrap prices to China fall on unexpected supply boost

Nov 21, 2012 | 11:12 AM |

Tags  Jiangsu Shagang Group, Shagang, U.S. scrap, scrap, exports, heavy melt, HMS 1&2, prices

SHANGHAI — U.S. scrap prices to China have fallen below $400 per tonne c.f.r. after supply exceeded market expectations.

Offers for an 80/20 mix of U.S. No. 1 and No. 2 heavy melt scrap stood at about $395 per tonne c.f.r. Nov. 21, down $5 per tonne from a week earlier, while those for shredded scrap fell by the same amount to about $405 per tonne c.f.r., a steel mill source in Jiangsu province told....





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