Bulk scrap export prices to Turkey slip further

Feb 13, 2014 | 07:20 PM | Sean Davidson

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

NEW YORK — U.S. bulk ferrous scrap export prices to Turkey slipped this week as market participants continue to debate whether prices are nearing a floor.

Two Turkish mills reportedly booked cargoes from a U.S. supplier at around $358 per tonne for an 80/20 mix of No. 1 and No. 2 heavy melt, down 1.1 percent from $362 a week ago (amm.com, Feb. 10).

In addition, a third Turkish mill booked two 25,000-tonne cargoes out of the United Kingdom at $351 per tonne for HMS 1&2 (80:20), sources said. British heavy melt typically sells at a discount to U.S. material.

Export prices to Turkey have dropped by around $40 per tonne since the start of this year, and buyers and sellers offered mixed views on whether this slide will continue or level off in the coming weeks.....





Latest Pricing Trends

Poll

Are you stocking more inventory today than 18 months ago?

Yes
No


View previous results