Bulk scrap export prices to Turkey slip further
Feb 13, 2014 | 07:20 PM
| 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.....
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