W. Coast scrap prices get boost from S. Korea

Nov 19, 2013 | 04:30 PM | Sean Davidson

Tags  scrap, scrap exports, ferrous scrap, HMS, heavy melt, shredded, Sean Davidson

NEW YORK — U.S. ferrous scrap export prices for bulk shipments soared this past week after two South Korean mills booked five cargoes off the West Coast.

After a few weeks of stagnant activity, Korea’s largest consumer booked four cargoes from two exporters this past weekend at $409 per tonne c.i.f. Korea for No. 1 heavy melt, market participants said, and on Nov. 18 a second Korean mill reportedly booked a cargo from a third exporter at $410 per tonne.

The transactions were up between $18 and $25 per tonne from the last West Coast bulk sales, which concluded at $385 and $391 per tonne almost four weeks ago.....

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