West Coast ferrous scrap prices gain steam

Jul 30, 2013 | 05:25 PM | Sean Davidson

Tags  ferrous scrap, West Coast prices, heavy melt, container scrap, bulk exports, Sean Davidson

NEW YORK — West Coast export prices for containerized ferrous scrap continued their upward momentum through July, with prices gaining an additional $10 per tonne over the past two weeks.

Taiwanese mills continue to drive demand and support higher prices, and U.S. exporters—buoyed by a surge in bulk demand and stronger domestic prices—continue to aim higher.

Most exporters said their latest containerized scrap transactions concluded at $350 per tonne c.f.r. Taiwan for an 80/20 mix of No. 1 and No. 2 heavy melt scrap, with this week’s offers climbing as high as $355 per tonne—up about $10 per tonne from mid-July and $20 since mid-June.....

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