US export prices still on shaky ground

May 30, 2013 | 04:21 PM | Sean Davidson

Tags  steel scrap, ferrous scrap, scrap exports, No. 1 heavy melt, No. 2 heavy melt, Sean Davidson

NEW YORK — U.S. ferrous scrap export prices continued to trend lower this week as market conditions for finished steel products remained bleak across the world.

Several market participants at the Bureau of International Recycling (BIR) conference in Shanghai this week told AMM that the sentiment for ferrous scrap is overwhelmingly negative as prices lost more ground.

Although no U.S. bulk sales were confirmed this week, a few sources in Turkey and the United States said there were "strong rumors" of a sale of an 80/20 mix of No. 1 and No. 2 heavy melt to Turkey at $347 per tonne c.i.f. Turkey, with one market participant pegging the level at $345 per tonne. This would indicate a $5-per-tonne drop from the last U.S. bulk sale, which reportedly was concluded last week at $350 per tonne c.i.f. Turkey.....

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