W. Coast ferrous scrap export prices soar
Jan 08, 2013 | 03:47 PM
| Sean Davidson
NEW YORK Strong demand for ferrous scrap from Taiwan and China and a big rebound in iron ore prices have sent West Coast export tags for containerized scrap shipments soaring more than $25 per tonne in the past two weeks.
Chinas return to U.S. shores has shored up market confidence in higher prices as offers continue to rise, according to market participants.
Several sources reported export sales of containerized shipments of an 80/20 mix of No. 1 and No. 2 heavy melt over the past five days in a range of $390 to $395 per tonne c.f.r. Taiwan, up from late-December sales concluded at $365 to $370 per tonne (amm.com, Dec. 28).....
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