W. Coast ferrous scrap export prices weaken

Jun 12, 2013 | 05:08 PM | Sean Davidson

Tags  scrap, ferrous scrap, West Coast exports, Dragon Boat holiday, scrap prices, Sean Davidson

NEW YORK — U.S. West Coast export prices for containerized ferrous scrap are on shaky ground, with Asian consumers pushing for lower tags amid light demand.

Most market participants speculated that prices for an 80/20 mix of No. 1 and No. 2 heavy melt will range from $330 to $335 per tonne c.f.r. Taiwan this week, down from $335 to $338 a week ago.

A buyer for a Taiwanese steel producer said that he had already booked U.S. scrap this week at $330 per tonne. Prices have continued to drop due to poor sales of Taiwanese finished products brought on by cheaper offers from China to countries throughout Asia, he said. ....

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