Bulk scrap export prices slide on weak demand

Feb 04, 2013 | 02:18 PM | Sean Davidson

Tags  ferrous scrap, AMM ferrous export index, Sean Davidson

ISTANBUL — U.S. bulk ferrous scrap export prices slipped on the East and West coasts last week as weak demand from key countries deflated support for previous levels.

Only two U.S. bulk sales were reported to Turkey last week as Turkish mills remained mostly absent from U.S. and European markets.

A single exporter sold both bulk cargoes via tender. The East Coast cargo was booked Feb. 1 at $391 per tonne for an 80/20 mix of No. 1 and No. 2 heavy melt c.i.f. Turkey and $402 per tonne for plate and structural scrap, market participants said. The previous day, a bulk sale was booked out of the Gulf Coast at $397 per tonne for HMS 1&2 (80:20) and $407 per tonne for plate and....

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