Scrap export prices slip as Turkey returns

Apr 24, 2013 | 04:22 PM | Sean Davidson

Tags  ferrous scrap, bulk scrap exports, steel scrap, Turkey, export prices, Sean Davidson

NEW YORK — A two-cargo bulk sale of ferrous scrap from the United States to Turkey has set the stage for a fresh round of negotiations, with weaker scrap prices expected to spark the return of Turkish mills to the market.

Negotiations are expected to start in earnest April 25, but the sale of two cargoes from one U.S. exporter to a single mill in Turkey has done little to offer the market a clear indication of price levels.

The exporter reportedly sold two cargoes over the span of a week, with one booking concluded April 12 and the second on April 19, according to several sources, who reported that each cargo—scheduled for May shipment—will comprise 37,000 tonnes of an 80/20 mix of No. 1 and No. 2 heavy melt and 8,000 tonnes of shred. ....

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