Container scrap prices slide after Asia holiday
Feb 14, 2014 | 05:49 PM
| Sean Davidson
NEW YORK Export prices for containerized ferrous scrap to Asia slid over the past seven days despite buyers returning to the markets after the regions Lunar New Year holiday.
Poor finished product sales and domestic scrap prices across the region impacted scrap tags and failed to bring back seasonal, post-holiday demand, market participants said.
Most sources noted declines in U.S. West Coast containerized ferrous scrap export prices over the past week, putting trades for an 80/20 mix of No. 1 and No. 2 heavy melt in a range of $335 to $338 per tonne c.f.r. Taiwan. These prices were reportedly down from $340 to $345 per tonne for HMS 1&2 (80:20) previously and off about $20 per tonne since mid-January (amm.com, Jan. 15).....
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