Demand spike boosts US bulk export prices

Aug 25, 2014 | 05:29 PM | Sean Davidson

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

NEW YORK — U.S. prices for bulk ferrous scrap exports to Asia and the Middle East firmed this past week as demand returned to the East and West Coasts amid improving sentiment in the domestic market.

A bulk sale reported off the West Coast to South Korea marked the first bulk sale out of the region in nearly a month, while market chatter of a second West Coast bulk cargo sale to Taiwan have yet to be confirmed.

A buyer for one Korean producer said a Korean mill had booked a bulk cargo at $382 per tonne c.i.f. Korea on a No. 1 heavy melt basis, up $10 per tonne from the last U.S. sale to Korea in the third week of July.....

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