Bulk ferrous scrap export tags to Turkey climb

Jul 14, 2014 | 06:25 PM | Sean Davidson

Tags  scrap, ferrous, steel, exports, bulk, Turkey, AMM Index, HMS heavy melt

NEW YORK — Prices for U.S. bulk ferrous scrap exports to Turkey inched marginally higher last week after Turkish mills swarmed export markets for cargoes.

Strong demand from Turkish mills resulted in at least 11 cargo bookings from the United States and Europe and additional volumes along traditional Black Sea routes as mills sought to refill lean inventories.

U.S. exporters accounted for at least five of last week’s 11 cargoes booked by Turkey, with four originating from the East Coast and one from the Gulf Coast.

Market participants said a cargo from Houston was booked July 10 at $378 per tonne c.i.f. Turkey for 42,000 tonnes of an 80/20 mix of No. 1 and No. 2 heavy melt and $385 per tonne for 3,000 tonnes of plate and structural scrap.....

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