US ferrous scrap export prices soar

Feb 27, 2013 | 05:30 PM | Sean Davidson

Tags  scrap exports, ferrous scrap, heavy melt, HMS, scrap prices, Sean Davidson

NEW YORK — U.S. ferrous scrap export prices for bulk shipments to Turkey logged big gains over the past few days as mills returned to replenish inventories.

At least four bulk cargo sales out of East and Gulf coast ports were reported by different market participants in a range of $400 to $405 per tonne c.i.f. Turkey for an 80/20 mix of No. 1 and No. 2 heavy melt.

The sales were booked over the past few days, with a single exporter accounting for three of the four mixed cargoes sold, sources said. Transacted prices represent an increase of about $10 per tonne from the previous round of U.S. sales to Turkey during the first week of February (, Feb. 7).....

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