W. Coast scrap market ponders export pricing

Nov 22, 2013 | 04:52 PM | Sean Davidson

Tags  scrap, scrap exports, shred, heavy melt, Sean Davidson

NEW YORK — An attempt by some Taiwanese and South Korean mills to push down scrap prices has split market sentiment on the West Coast despite no volumes trading at the lower prices.

For their part, exporters reportedly have raised offer prices to counter the mills’ lower bids, with most sources acknowledging it was unclear how the development will play out in the coming days.

According to several market participants, some Taiwanese mills lowered the bid price for containerized shipments of an 80/20 mix of No. 1 and No. 2 heavy melt to around $360 per tonne c.f.r. Taiwan after booking reasonable volumes in a range of $365 to $368 per tonne.

Large-volume exporters, meanwhile, raised their offer prices to above $370 per tonne, with one exporter’s offer for HMS 1&2 (80:20) reported at $373 per tonne.....

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