Scrap export prices fall as sellers cede ground

Apr 29, 2013 | 02:43 PM | Sean Davidson

Tags  ferrous scrap exports, export prices, Turkey scrap, China scrap, South Korea scrap, AMM Index, Sean Davidson

NEW YORK — U.S. bulk ferrous scrap export prices have dropped significantly as exporters accepted lower bids to secure sales this past week.

At least four bulk cargoes were sold to Turkey and single cargoes were sold to China and South Korea, and tags dropped more off the West Coast than off the East Coast, according to several market participants.

Turkey, the largest buyer of U.S. ferrous scrap, booked one cargo from a port in Florida, one from a Mid-Atlantic port and one from Puerto Rico, sources said. The three sales followed a Gulf Coast sale April 24 (, April 25) which market participants had said would set $375 per tonne ex-East Coast as a price level for negotiations.....

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