Bulk export tags fall, sparking sales to Turkey

Feb 10, 2014 | 04:08 PM | Sean Davidson

Tags  export index, Turkish buyers, Egyptian buyers, scrap prices, scrap, scrap exports, ferrous scrap, shredded scrap heavy melt scrap

ST. LOUIS — Tumbling U.S. bulk ferrous scrap export prices to Turkey have triggered an increase in sales to the country, with the latest sales bringing to seven the number of cargoes booked over the past week.

Market participants were quick to point out to AMM that the return of Turkish buyers to U.S. shores was merely a function of price, which has fallen more than $15 per tonne in the past 10 days.

Three exporters booked three new cargo sales to Turkey Feb. 6 and one to Egypt Feb. 4, with three of the sales originating from the East Coast and one from the Gulf Coast, sources told AMM. That’s on top of the four sales to Turkey reported last week (amm.com, Feb. 4).....

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