Turkey sends bulk export prices down again

May 09, 2013 | 05:30 PM | Sean Davidson

Tags  ferrous scrap, steel scrap, HMS, heavy melt, exports, Turkey, scrap prices, Sean Davidson

NEW YORK — U.S. bulk ferrous scrap export prices have fallen for the second time in as many weeks as mill buyers in Turkey continue to drive prices down amid weak demand.

According to market participants, a surge in billet imports into Turkey has combined with poor demand for certain finished steel products to send scrap buying prices from the United States significantly below the $373- to $375-per-tonne price range for an 80/20 mix of No. 1 and No. 2 heavy melt that many had expected would be the floor.

At least five bulk sales by different U.S. exporters May 8 at a price range of $367 to $368 per tonne c.i.f. Turkey for HMS 1&2 (80:20) sent export prices down at least $6 per tonne this week from a late-April range of $373 to $375 (amm.com, April 29). ....

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