US bulk scrap export prices to Turkey rally
Mar 13, 2014 | 02:19 PM
| Sean Davidson
NEW YORK Export prices for U.S. bulk ferrous scrap shipped to Turkey have rebounded as demand trickled in amid a recovery in iron ore prices.
After staying away from markets to better understand a sudden drop in Chinese iron ore prices, Turkish mills short on inventory for April were back March 13 after iron ore prices recovered some lost ground to around $108 per tonne for 62-percent iron content product c.f.r. Qingdao.
Market players had speculated that U.S. offers for an 80/20 mix of No. 1 and No. 2 heavy melting scrap would rise to a range of $370 to $380 per tonne c.i.f. Turkey (amm.com, March 12). That appears to have materialized, with participants reporting a cargo sold at $367 to $369 per tonne c.i.f. Turkey for HMS 1&2 (80:20), depending on final freight costs.....
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