The United States' ferrous scrap export market to Turkey was quiet on Wednesday February 19, but signs from other countries suggest more upside ahead in cargo sales.
A Baltic sale concluded to Turkey on February 19 included an 80:20 mix of No1 and No2 heavy melting scrap (HMS) at $279 per tonne. The Baltic material sells at a $5-per-tonne discount to that from the US.Based on the latest US sale to Turkey on February 18, this suggests that the US export market could reach $284.50 per tonne.The February 18 sale contained...