Bulk export prices to Turkey drop $10/T on sales

May 02, 2014 | 05:57 PM | Sean Davidson

Tags  ferrous scrap, bulk exports, Turkey, price decline, fresh sales, HMS, Sean Davidson

NEW YORK — U.S. bulk export prices to Turkey have dropped around $10 per tonne over the past month, with five recent bulk cargo sales suggesting a gradual return of Turkish demand.

Market participants said a large bulk cargo sale originating in Houston concluded May 2 at a price level of $379 per tonne c.i.f. Turkey for an 80/20 mix of No. 1 and No. 2 heavy melt, and the vessel is expected to carry about 45,000 tonnes of ferrous scrap. Cargoes originating from the U.S. Gulf Coast typically trade at a premium of $4 to $5 per....

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