Bulk ferrous scrap export prices inch higher

Dec 27, 2012 | 03:22 PM | Sean Davidson

Tags  ferrous scrap, scrap exports, scrap prices, AMM Index, heavy melt, shredded scrap, Sean Davidson

NEW YORK — Ferrous scrap export prices have gained momentum after U.S. exporters concluded at least seven bulk cargo sales to Turkey over the past 10 days at slightly higher levels.

Two of the sales were out of Gulf Coast ports, according to several market participants, while five were from East Coast docks.

The majority of the sales took place in the days leading up to the Christmas holiday, with just one transaction concluded in the days since. The most recent sale, made Dec. 26 off the East Coast, reportedly was a mixed cargo of about 13,000 tonnes of an 80/20 mix of No. 1 and No. 2 heavy melt, 10,000 tonnes of shred and 2,000 tonnes of plate and structural scrap at a composite price of $400 per tonne c.i.f., but the cargo will attract higher freight than....

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