Scrap exports up off East Coast, slow to Asia

Jul 01, 2013 | 03:53 PM | Sean Davidson

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

NEW YORK — U.S. bulk scrap export activity continues to diverge off the East and West coasts, with West Coast exporters facing thin Asian demand despite a softening price environment and East Coast exporters reporting a flurry of recent activity, including three cargoes booked this past week alone.

Most market participants said not one bulk cargo of ferrous scrap was sold off the West Coast this past week, although a few sources reported rumors of an unconfirmed sale to Vietnam.

Bulk offer prices to consumers in Malaysia, Vietnam, Indonesia and Taiwan dropped at least $5 per tonne last week, according to various market sources.....

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