Slow offshore demand bites W. Coast prices

Mar 15, 2013 | 03:15 PM | Sean Davidson

Tags  ferrous scrap exports, export prices, China buyers, Taiwan buyers, South Korea buyers, Far East demand, scrap offer prices, Sean Davidosn

NEW YORK — Prices for containerized ferrous scrap exported from the West Coast fell this past week due to a drop in demand from buyers in key consumer markets like Taiwan, South Korea and China, who continue to seek prices well below U.S. offers.

Taiwanese mill bids for containerized scrap ranged between $380 and $385 per tonne c.f.r. for an 80/20 mix of No. 1 and No. 2 heavy melt this past week, sources said, down $5 per tonne from the previous week’s range.

"West Coast markets are certainly weakening. Taiwan and Korea are skittish about jumping in," one scrap exporter said. Meanwhile, U.S. offers were at around $360 f.a.s. Long Beach, with buyers aiming lower, he said.....





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