Bulk scrap export prices fall after two sales
Jan 31, 2013 | 12:43 PM
| Sean Davidson
Tags
ferrous scrap,
scrap exports,
heavy melt,
shredded scrap,
Turkish steelmakers,
HMS 1&2,
Sean Davidson
NEW YORK — U.S. ferrous scrap export prices for bulk cargoes are under pressure this week after a sale from the Gulf Coast and a second out of Canada were booked at values well below previous levels.
The cargoes were booked Jan. 31 by separate Turkish steelmakers after negotiating scrap values at some $8 per tonne below prior U.S. transactions on Jan. 23, market sources said.
A 40,000-tonne Gulf Coast cargo divided evenly between an 80/20 mix of No. 1 and No. 2 heavy melt and plate and structural scrap was booked at $397 per tonne and $407 per tonne c.i.f. Turkey, respectively, sources said. While this represents a $4-per-tonne decline from the prior sales at $401 per tonne for HMS 1&2 (80:20) from the East Coast (amm.com, Jan. 23), sources noted that the freight premium out of the Gulf Coast was about another $4 per tonne. That points to....
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