The United States' bulk ferrous scrap export price continued to trek upward in a fresh cargo sale to Turkey, while a drop in flows forced East Coast exporters to reverse some recent dock buying price reductions.
An East Coast cargo was sold to Turkey at $334 per tonne cfr for an 80:20 mix of No1 and No2 heavy melting scrap (HMS), $339 per tonne cfr for shredded scrap and $344 per tonne cfr for bonus-grade scrap on Thursday October 25. The exact tonnage details for this sale were not available. Prices have risen by $3 per tonne from the preceding East Coast bulk sale to Turkey on October 23 at $331 per tonne cfr for HMS1&2 (80:20).The rumor mill is buzzing with talk of numerous cargoes sold to Turkey from Europe, the Baltics and the US, including a second US cargo that allegedly sold to Turkey at $329 per tonne cfr for HMS1&2 (80:20). The deep-sea ferrous scrap price to Turkey inched up further in two European...