Two cargoes have been sold from the East Coast to Turkey over the past seven days. Prices dipped by $7 per tonne in a November 9 cargo, which changed hands at $303 per tonne cfr for HMS 1&2 (80:20), $308 per tonne cfr for shredded scrap and $313 per tonne cfr for bonus-grade scrap.
But this downtrend was short-lived, and prices made a quick reversal four days later. A second East Coast cargo containing 18,000 tonnes of HMS 1&2 (90:10), 15,000 tonnes of shredded, and 2,000 tonnes of plate and structural scrap (P&S) sold to Turkey at an average price of $312 per tonne cfr.
Metal Bulletin sister title American Metal Market’s calculations indicate that this cargo traded at the equivalent of $309 per tonne cfr for HMS 1&2 (80:20), up by $6...
