Ferrous scrap exports to Turkey hit lull

Jun 30, 2014 | 04:04 PM | Sean Davidson

Tags  scrap, ferrous scrap, scrap exports, HMS, heavy melt, Nucor, scrap prices, Sean Davidson

NEW YORK — U.S. bulk ferrous scrap exports to Turkey are expected to hit a quiet period this week due to a price standoff between buyers and sellers.

A drop in Turkish export selling prices for reinforcing bar and the start of a lower production month due to the annual Ramadan holiday have resulted in a buyer-side push for lower prices.

Meanwhile, U.S. and European exporters have reportedly cited limited scrap supply in bolstering offer prices, which are at least a few dollars above last week’s lone U.S. bulk sale to Turkey—booked at $371 per tonne c.i.f. Turkey for an 80/20 mix of No. 1 and No. 2 heavy melt.....

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