The United States ferrous scrap export market remains on an even, if somewhat subdued, keel in the wake of three US cargoes reportedly sold to Turkey at stable prices.
A mixed deep-sea cargo priced at $523 per tonne cfr comprising a 90:10 mix of No1 and No2 heavy melting scrap and bonus-grade material was heard offered to a Turkish mill out of Houston on Wednesday November 17. It is understood that no sale was made on the strength of this offer.This offer was estimated to be equivalent to $503 per tonne cfr on an HMS 1&2 (80:20) basis. A sale concluded at this level would constitute a $3-per-tonne increase compared with the last three reported sales of the grade from the US to Turkey all priced at $500 per tonne cfr. A source indicated that this would be directly comparable to a more-typical East Coast shipment to the region.Turkish mills cited the lira's recent weakening against the US...