East Coast Export Index slips as W. Coast firms
Jan 28, 2013 | 04:47 PM
| Sean Davidson
Tags
ferrous scrap,
export index,
Sean Davidson
MONTERREY, Mexico — Thin demand from Turkey for East Coast ferrous scrap and sustained demand from Asia for West Coast scrap sent export prices on the two coasts in opposite directions.
A nearly $7-per-tonne decline in East Coast bulk export tags combined with an almost $3-per-tonne increase in West Coast export prices to restore the more than $10 premium West Coast exporters enjoyed over the East Coast many months ago.
Two bulk cargo sales were reportedly booked off the West Coast this past week as China and Vietnam each picked up a cargo.
Market participants said a U.S. exporter sold a 35,000-tonne cargo to China at about $426 per tonne c.i.f. China for an 80/20 mix of No. 1 and No. 2 heavy melt. A second cargo of around 30,000 tonnes reportedly was sold to Vietnam at $10 per tonne above the China prices. ....
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