W. Coast scrap export prices drop again
Mar 22, 2013 | 03:29 PM
| Sean Davidson
NEW YORK Prices for containerized ferrous scrap exported from the West Coast dropped again this past week, as market conditions in East and Southeast Asia remained bleak.
Some Taiwanese mills are expected to cut back production as they realign operations to battle a weak finished-products market, several sources said.
Market participants reported containerized sales of an 80/20 mix of No. 1 and No. 2 heavy melt to Taiwanese mills in a range of $370 to $375 per tonne c.f.r. during the week, while one exporter reported a small-volume sale at $365 per tonne late March 22.
Taiwanese mills the prior week bid $380 to $385 for HMS 1&2 (80:20), with U.S. offers at around $390 per tonne, sources said. That indicates a $15- to $20-per-tonne decline over the past few weeks. ....
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