Ferrous scrap export prices jump after lull
Jan 07, 2013 | 05:33 PM
| Sean Davidson
NEW YORK Three new bulk ferrous scrap sales to Turkey off the East Coast were concluded late last week, sending prices upward after a two-week lull.
Market participants said that the primary driver for higher prices was a strong increase in Mid-Atlantic prices due to scrap flow concerns.
Two U.S. exporters sold mixed bulk cargoes to different consumers late Friday at $405 per tonne c.i.f. Turkey for an 80/20 mix of No. 1 and No. 2 heavy melt.
One exporter sold around 27,000 tonne of HMS 1&2 (80:20), 10,000 tonnes of shred and 5,000 tonnes of plate and structural scrap at $405, $410 and $415 per tonne c.i.f., respectively, according to several market sources. The second exporter sold about 32,000 tonnes of HMS 1&2 (80:20) and 13,000 tonnes of shred at $405 and $410 per tonne c.i.f., respectively.....
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