W. Coast bulk ferrous scrap export prices jump

Jul 02, 2014 | 03:28 PM | Sean Davidson

Tags  scrap, ferrous, HMS, heavy melt, Thailand, China, South Korea, Malaysia Vietnam

NEW YORK — West Coast bulk ferrous scrap export prices posted a significant increase following a sale to Thailand that broke a monthlong impasse.

Exporters sought higher prices in Asia following late-May sales of No. 1 heavy melt to South Korea at $377 per tonne c.i.f. and an 80/20 mix of No. 1 and No. 2 heavy melt to Thailand at $387 per tonne c.i.f.

The push for higher prices resulted in a quiet market for the past four weeks until one exporter broke the deadlock July 1 with a sale of HMS 1&2 (80:20) to Thailand at a reported $395 per tonne c.i.f.....

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