Ferrous scrap export prices declined following four US cargoes sold to Turkey and reported over the past week; meanwhile, East Coast exporters were mixed, with some keeping a tight rein on buying prices while others accepted dock price increases to attract more inbound flows.
Three cargoes from the East Coast were sold to Turkey over the past seven days. The first and second traded at $338 per tonne cfr for an 80:20 mix of No1 and No2 heavy melting scrap, while the third - which reportedly was concluded prior to the first two bulk sales - was priced at $340 per tonne cfr for the same scrap grade. One sale from the Gulf Coast to Turkey - containing HMS 1&2 (80:20) at $340 per tonne cfr - was reported on November 7.Those prices were off $1-3 per tonne from an East Coast cargo transacted November 1 at $341 per tonne cfr for HMS 1&2 (80:20). Turkish steelmakers retreated to the sidelines after securing these deals and have made no cargo bookings since November 8. For cargo offers to Turkey, sources said...