US ferrous scrap exports shift to Asia

Jan 18, 2013 | 05:19 PM | Sean Davidson

Tags  ferrous scrap, scrap exports, HMS 1&2, scrap prices, Turkish demand, Asian shipments, Sean Davidson

NEW YORK — The U.S. bulk ferrous scrap export market took an unlikely turn this past week after one exporter abandoned traditional freight routes to manage the current demand environment.

With recent interest from Turkish mills dismal, one exporter has concluded bulk sales from the East and Gulf coasts to East Asia, AMM has been told.

East Coast exporters continue to seek prices of $405 to $410 per tonne c.i.f. Turkey for an 80/20 mix of No. 1 and No. 2 heavy melt. However, buyers for Turkish producers have bid around the $400-per-tonne level with no urgency in requirement.....

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