Bulk scrap sale to Turkey clarifies little

Dec 19, 2012 | 04:34 PM | Sean Davidson

Tags  ferrous scrap, scrap exports, heavy melt, HMS 1&2 (80:20), scrap prices, Sean Davidson

NEW YORK — A fresh U.S. bulk ferrous scrap sale to Turkey has left the market uncertain about future pricing trends as the sale was concluded at the same level as last week.

Trading has been relatively quiet thus far this week, with only one other bulk sale—originating in Europe—concluding on Wednesday, market participants said.

A U.S. exporter sold 31,000 tonnes of an 80/20 mix of No. 1 and No. 2 heavy melt to Turkey on Tuesday at $393 per tonne c.i.f., sources said. The cargo is expected to carry an additional 2,000 tonnes of shredded scrap sold at $5 higher than the heavy melt price, AMM has been told. The heavy melt price was unchanged from last week’s bulk sale out of the Gulf Coast (amm.com, Dec. 14).....

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