Turkey, India scrap tags steady, Far East weak

May 15, 2014 | 04:47 PM | Sean Davidson

Tags  scrap, ferrous, HMS, heavy melt, shred, Turkey, India, Taiwan Korea

NEW YORK — U.S. ferrous scrap export markets recorded a mixed week as bulk shipment tags to Turkey and containerized scrap prices to India held steady while demand from Far East Asia dropped to send West Coast export prices lower.

Demand momentum for bulk scrap exports to Turkey continued as two more sales reportedly were concluded May 14 and 15 following four bookings between May 8 and 13 (amm.com, May 13).

Market participants said one East Coast cargo sold May 14 at $375 per tonne c.i.f. Turkey for an 80/20 mix of No. 1 and No. 2 heavy melt, while a second sold May 15 at $376 per tonne, indicating steady pricing as Turkish demand for U.S. scrap remains strong.....

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