W. Coast containerized scrap prices soften
Jan 18, 2013 | 05:14 PM
| Sean Davidson
Tags
ferrous scrap exports,
containerized scrap,
West Coast exports,
Sean Davidson
NEW YORK — Export prices for containerized ferrous scrap on the West Coast are under pressure after peaking earlier in the past week.
Export prices enjoyed an uptick over the past few weeks due to a surge in demand from buyers in China and Taiwan who were looking to fill inventories ahead of a seasonal slowdown due to the Chinese New Year holiday in February.
Market participants said prices peaked at $402 per tonne c.f.r. Taiwan for an 80/20 mix of No. 1 and No. 2 heavy melt before shedding $5 on Jan. 17 to a range of $390 to $395 per tonne.....
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