ISTANBUL U.S. bulk scrap export prices to Turkey have dropped for the second consecutive week after two exporters booked sales at well below previous levels.
Market participants reported the exporters sold to different Turkish mills on Feb. 5, with cargo sizes reported at 25,000 tonnes and below.
One of the exporters reportedly sold a mixed cargo out of Puerto Rico at a composite price of $387 per tonne for an 80/20 mix of No. 1 and No. 2 heavy melt and shred.
A second exporter reportedly sold a mixed cargo out of an East Coast port at a composite price of $391 per tonne for 13,000 tonnes of HMS 1&2 (90:10), 9,000 tonnes of shred and 3,000 tonnes of bonus scrap, according to several sources.
Both trades appear to be significantly lower pricewise than the last bulk sale to Turkey out of the United States booked on Jan. 31. That shipment, a 40,000-tonne Gulf Coast cargo divided evenly between HMS 1&2 (80:20) and plate and structural scrap, sold at $397 per tonne and $407 per tonne c.i.f. Turkey, respectively (amm.com, Jan. 31).