Container scrap prices tick up on West Coast
Feb 27, 2014 | 03:14 PM
| Sean Davidson
NEW YORK A modest recovery in prices of containerized ferrous scrap exported to countries like Taiwan has brought some optimism to an otherwise bearish market eager for any positive cue.
West Coast market participants said export prices to Taiwan bottomed and then gained a few dollars Feb. 26 as Taiwanese mills looked to fill depleted scrap inventories.
Large-volume exporters reported sales of an 80/20 mix of No. 1 and No. 2 heavy melt in a range of $338 to $340 per tonne c.f.r. Taiwan, up from $335 to $338 two weeks ago (amm.com, Feb. 14). Some traders said containerized HMS 1&2 (80:20) had sold in a range of $330 to $338 per tonne c.f.r. Taiwan leading up to Feb. 26, when reports of higher-priced trades trickled in.....
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