Ferrous scrap sale to Turkey sets market tone

Apr 25, 2013 | 04:39 PM | Sean Davidson

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

NEW YORK — A bulk cargo sale of ferrous scrap to Turkey out of the Gulf Coast has provided the market with a clearer vision of upcoming negotiations as more Turkish steel mills enter the market to acquire material.

Several market participants reported an April 25 sale out of Houston to a Turkish mill at a composite price of $383 per tonne c.f.r. Turkey. The cargo was said to comprise 32,000 tonnes of an 80/20 mix of No. 1 and No. 2 heavy melt, 8,000 tonnes of shredded scrap and 5,000 tonnes of plate and structural scrap.....

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