Ferrous scrap export prices continue to climb

Apr 07, 2014 | 04:50 PM | Sean Davidson

Tags  scrap, steel, ferrous scrap, export prices, HMS, Sean Davidson

LAS VEGAS — U.S. ferrous scrap export prices continued to rise this past week, with limited buying at stronger price levels.

A big bump in bulk cargo sales off the West Coast, higher buying prices in Turkey and stronger containerized scrap export prices into several Asian countries resulted in increases of between $5 and $10 per tonne, depending on the destination.

At least two bulk cargoes have sold off the West Coast over the past week, one to Taiwan and one to China, according to some market participants. The sale to a Taiwanese mill was concluded March 31 at between $370 and $372 per tonne for an 80/20 mix of No. 1 and No. 2 heavy melt, according to sources, who said the cargo also will include shredded scrap that sold at $5 per tonne above the HMS 1&2 (80:20) price.....

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