East Coast scrap prices lift on new Turkey sale

Jun 17, 2013 | 06:01 PM | Sean Davidson

Tags  steel scrap, ferrous scrap, scrap exports, AMM Index, AMM East Coast Ferrous Scrap Export Index, AMM Index, AMM West Coast Ferrous Scrap Export Index, heavy melt shredded

NEW YORK — A bulk ferrous scrap export sale from the East Coast to Turkey late last week supported previous speculation that prices could strengthen slightly.

A flurry of cargo sales from Europe to Turkey at improving prices early last week had lifted U.S. hopes that three months of declining prices might end (amm.com, June 13).

On June 14, one exporter sold 30,000 tonnes of No. 1 and No. 2 heavy melt (90:10) and shredded scrap at an average price of $349 per tonne c.i.f. Turkey. The price is an improvement of about $2 per tonne over pre-freight prices of HMS 1&2 (80:20) for similar vessel sizes, AMM understands.....





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