Bulk ferrous scrap sales send prices down

Jan 23, 2013 | 05:02 PM | Sean Davidson

Tags  ferrous scrap, scrap exports, Sean Davidson

NEW YORK — U.S. bulk ferrous scrap export prices were pushed lower Jan. 23 after a Turkish mill booked two cargoes from the East Coast, ending a nearly two-week lull in activity.

Market participants said a single mill traded with two different U.S. exporters at identical price levels, and reportedly bought a third cargo from Europe.

Sources said the two U.S. bulk cargoes were sold at $401 per tonne c.i.f. Turkey for an 80/20 mix of No. 1 and No. 2 heavy melt, indicating a $4- to $6-per-tonne drop from the last U.S. cargoes sold to Turkey, which traded in a range of $405 to $407 per tonne for HMS 1&2 (80:20) earlier this month.....

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