Bulk scrap exports sideways as demand slips
Mar 18, 2013 | 03:39 PM
| Sean Davidson
Tags
ferrous scrap exports,
export prices,
Turkey,
China,
South Korea,
scrap,
AMM Index,
ferrous scrap
Sean Davidson
NEW YORK — U.S. ferrous scrap export prices for bulk shipments trended sideways over the past week as thin demand offered little price support.
A big return to the scrap market by Turkish mills did little for East Coast exporters, who booked just two of 11 bulk sales to Turkey this past week, with European exporters picking up most of the business.
Market participants said a strong dollar—which makes European scrap more attractive—and a relatively strong domestic market for scrap meant U.S. offers failed to trigger much interest from Turkey.....
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