USA's scrap export prices climb on Turkish buying

The political upheaval in Turkey has not been disastrous for international scrap export prices, allowing a US East Coast exporter to secure a new order at higher prices.

In fact, two bulk sales, one off each US coast, were made in the past week with no downward price movement in either market. A US East Coast exporter sold a Turkish steelmaker 8,000 tonnes of a mix of HMS 1&2 (80:20) at $229 per tonne cfr, 13,000 tonnes of shredded at $234 per tonne cfr and 4,000 tonnes of bonus at $239 per tonne cfr on Monday July 25. This was $13 per tonne higher than the previous sale on July 13 at $216 per tonne cfr for HMS 1&2 (80:20). Meanwhile, a South Korean producer booked 35,000 tonnes of HMS 1 at $225 per tonne cfr from a US West Coast exporter, the same...


July 28, 2016

01:25 GMT

New York