US bulk export prices rise, seen strengthening

Oct 14, 2013 | 03:37 PM | Sean Davidson

Tags  ferrous scrap, scrap exports, export index, heavy melt, HMS, shredded scrap, scrap prices, Sean Davidson

NEW YORK — U.S. bulk ferrous scrap export prices gained some ground last week, with sales from the West Coast and recent Turkish bids for East Coast scrap pointing to a stronger market.

West Coast market participants reported two bulk sales in the past 10 days and said current offers have trekked above both cargoes’ sales prices.

A mixed cargo sale to South Korea early last week was reportedly concluded at a price basis of $369.50 per tonne c.i.f. for No. 1 heavy melt, while a second cargo sale to Taiwan was booked a few days later at a price basis of $377 per tonne c.i.f. for an 80/20 mix of No. 1 and No. 2 heavy melt.....

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