Bulk scrap export tags sideways in quiet mart

Jan 22, 2013 | 05:40 PM | Sean Davidson

Tags  ferrous scrap, scrap exports, scrap prices, AMM West Coast Ferrous Scrap Export Index, AMM East Coast Ferrous Scrap Export Index, heavy melt, shredded scrap, scrap exports Sean Davidson

NEW YORK — Prices for U.S. bulk ferrous scrap exports mostly moved sideways over the past week, with Turkey and China showing no buying interest.

Only one bulk cargo sale was reported from the East Coast with a final destination of Vietnam rather than Turkey, typically the sole destination for East Coast bulk cargoes (amm.com, Jan. 18).

Current bids from Turkish mills are at $400 per tonne c.i.f. Turkey for an 80/20 mix of No. 1 and No. 2 heavy melt, with U.S. exporters offering the same mix in a range of $405 to $410 per tonne, depending on port of origin and volume, one market participant said. ....

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