Ferrous scrap export prices in the United States have risen on the West and East coasts, with bulk and containerized scrap prices improving on steady demand from buyers on the Indian subcontinent and the Far East.
Four cargoes - one from the West Coast and three from the East Coast - traded to Asia and Turkey over the past seven days. The West Coast sale by a Portland, Oregon-based exporter on Friday September 28 was for a 30,000-tonne cargo containing shredded scrap at $362 per tonne cfr and and 80:20 mix of No 1 and No 2 heavy melting scrap (HMS) at $357 per tonne cfr. A 43,000-tonne cargo of HMS1&2 (70:30) was being offered by a European supplier to Vietnam at $352 per tonne cfr, an Asian trader said. "This cargo will probably have a buyer soon because this price level is very affordable [for Vietnamese mills]," he said, noting that the US cargo sale for HMS1&2 (80:20) at $357 per tonne cfr is also considered "affordable" right now. An Asian...