Poor demand sinks scrap export prices to Asia
May 01, 2014 | 03:55 PM
| Sean Davidson
NEW YORK Export prices for containerized ferrous scrap shipped to the Far East have softened amid an absence of demand.
Market participants reported a significant drop in volumes sold this past week into countries that included Taiwan and South Korea, with many buyers said to be completely out of the market and others booking smaller tonnages at prices that were reportedly weaker vs. last week.
Containerized export sales of an 80/20 mix of No. 1 and No. 2 heavy melt into Taiwan were reported at $348 to $353 per tonne c.f.r. Taiwan, down from $350 to $355 per tonne last week (amm.com, April 25).....
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