Poor demand sinks scrap export prices to Asia

May 01, 2014 | 03:55 PM | Sean Davidson

Tags  scrap, ferrous scrap, steel, heavy melt, HMS, scrap exports, container scrap, 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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