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US East Coast scrap exports up as prices dip

February 08, 2012 - 02:23 GMT Location: New York

KEYWORDS: ferrous scrap , ferrous scrap exports

errous scrap exporters on the East Coast have set the Turkish market on fire, with at least seven bulk cargoes reportedly shipped to the largest offshore consumer of U.S. scrap in the past nine days at prices up to $10 per tonne lower than in recent weeks, market participants said.

This week, four more cargoes were reportedly shipped to Turkey at even lower prices. Sources said a mixed bulk cargo of 9,000 tonnes of 80/20 heavy melt, 15,000 tonnes of 90/10 heavy melt and 20,000 tonnes of shredded steel scrap was sold to Turkey at an average price of $435 per tonne c.f.r.

A second cargo carrying 44,000 tonnes 95/5 heavy melt was sold to Turkey at $436 per tonne c.f.r. Monday, while just a...

All material subject to strictly enforced copyright laws. © Euromoney Institutional Investor PLC.

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Ferrous Scrap

May 24, 2012 14:50 DAILY SCRAP REPORT: Small Black Sea buyers sell off cargoes
May 24, 2012 00:29 Harsco renews three multiyear contracts in US
May 23, 2012 14:45 DAILY SCRAP REPORT: Index unchanged on lack of new offers
May 23, 2012 10:24 China halts scrap imports on weak domestic market
May 23, 2012 00:35 US recyclers facing bankruptcy filings

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