US ferrous scrap prices to Turkey hold

May 13, 2014 | 05:25 PM | Sean Davidson

Tags  ferrous scrap, steel, heavy melt, HMS, Turkey, export, scrap prices, Sean Davidson

NEW YORK — Prices for U.S. bulk ferrous scrap exports to Turkey showed some weakness in deals concluded this week, although at least two sales reportedly held on to earlier May values.

Market participants reported four bulk cargo sales from May 8 to 13, taking the May total to five cargoes and putting it on course to surpass a dismal April, which accounted for around seven cargoes.

However, recent sales have perplexed several market participants as an East Coast cargo reportedly sold May 13 at $376 per tonne c.i.f. Turkey for an 80/20 mix of No. 1 and No. 2 heavy melt—the same as East Coast price levels recorded May 2 based off a sale from Houston at $379 per tonne (, May 2). Cargoes from Houston typically attract an additional $3-per-tonne freight charge over East Coast values.....

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