W. Coast scrap export market seeks direction

Mar 20, 2014 | 03:52 PM | Sean Davidson

Tags  scrap, exports, ferrous, steel, HMS, heavy melt, shred, Taiwan South Korea

NEW YORK — West Coast containerized ferrous scrap exporters are divided on price direction following mixed cues from major offshore consumers.

Market participants said several Taiwanese mills continued to book scrap this week, with larger-volume players reporting prices that were unchanged from prior-week levels but smaller-volume exporters reporting modest price decreases.

Some exporters said that a late surge in orders for Taiwanese reinforcing bar helped put a floor on scrap sales into Taiwan (amm.com, March 14).

Large-volume shippers reported containerized sales of an 80/20 mix of No. 1 and No. 2 heavy melt at $340 to $345 per tonne c.f.r. Taiwan, adding that they expect prices to hold as buyers across Asia back off on demand and await cues from the U.S. domestic market. ....

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