Asia scrap interest rallies, but prices hold

Apr 17, 2014 | 05:56 PM | Sean Davidson

Tags  scrap, ferrous scrap, scrap exports, Asia scrap, HMS, heavy melt, scrap prices, Sean Davidson

NEW YORK — Export prices for ferrous scrap shipped into several Asian markets was relatively steady this week as market participants worked to prepare positions for the summer.

Some regions expressed a lot of interest in bulk cargoes as unconfirmed rumors of numerous bulk sales circled, exporters and buyers said.

One exporter said some buyers for mills in Thailand, Taiwan, Vietnam, China and Indonesia had bid on bulk cargoes, with no confirmations on any transactions.

"The only thing I heard is a sale to China at $385 per tonne c.i.f. (for heavy melt). Also, prices are strengthening. Thailand is becoming a major buyer at $390 per tonne," he said.....

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