US ferrous export prices fall on Turkish sales

Sep 16, 2013 | 04:43 PM | Sean Davidson

Tags  ferrous scrap, steel scrap, scrap exports, export prices, scrap prices, HMS, heavy melt, shredded scrap Turkish bookings

CHICAGO — Turkish steel mills succeeded in driving U.S. scrap export prices down about $10 per tonne after three bulk cargo sales in 10 days.

This put prices for an 80/20 mix of No. 1 and No. 2 heavy melt scrap well below the prior level of $375 to $378 per tonne.

After three weeks of inactivity, the first U.S. cargo to Turkey sold about 10 days ago at close to $369 per tonne c.i.f. Turkey for HMS 1&2 (80:20), market participants said. Since the cargo was reportedly less than 30,000 tonnes and has a two-port loading, it is expected to carry a significantly higher freight, which sent f.o.b. prices plummeting a week ago to around $335 per tonne f.o.b. New York from $354 per tonne the prior week.....

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