A flurry of export sales off the East Coast and Florida has put further supply pressure on an already tight US ferrous scrap market.
An East Coast sale that was reported on October 22 for an 80:20 mix of No1 and No2 heavy melting scrap priced at $510 per tonne and shredded scrap at $530 per tonne raised eyebrows for its high selling price.It is too early to tell whether this cargo is an outlier that sold for a premium because of its quality or whether it is a harbinger for future sales.A Tuesday October 26 sale out of Florida included 20,000 tonnes of a 90:10 mix of No1 and No2 heavy melting...