W. Coast scrap export prices reclaim ground
Jul 16, 2013 | 03:12 PM
| Sean Davidson
NEW YORK West Coast containerized scrap export prices are on the rise after being spurred by rising scrap and finished product prices in key Asian markets, according to market participants.
Sources reported containerized sales of an 80/20 mix of No. 1 and No. 2 heavy melt at anywhere between $340 and $345 per tonne delivered to Taiwan, indicating a $10 increase from a month ago. Most sales were reported in the middle of that range at $342 and $343 per tonne for HMS 1&2 (80:20).
"Container sales have stabilized and are inching upwards," said one exporter, who anticipates demand from Taiwan will pick up this week. "(...) the rebar price in Taiwan (as well as the local scrap price) has increased. Expectations are for U.S. scrap sales in the $340 to $345 range."....
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