Bulk export prices mixed on demand shift

Mar 24, 2014 | 02:48 PM | Sean Davidson

Tags  scrap, exports, HMS, heavy melt, shred, AMM Index, Turkey, India South Korea

NEW YORK — Bulk ferrous scrap export activity is expected to trend in opposite directions on the East and West coasts in the coming days as market participants anticipate Turkey will be relatively quiet while interest from South Korea and India is expected to pick up.

After booking about 20 bulk cargoes—including four from the United States—in the past two weeks, as well as smaller shipments from nearer ports, Turkish mill buyers are likely to take a step back this week as they await the outcome of local elections, rising tensions between Turkey and Syria, the impact of any global trade restrictions on Russia and April price movements in the U.S. domestic market.

In the meantime, market participants said bulk ferrous scrap export trade with Korea and India could materialize should buyers and sellers agree on price levels.....

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