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Mar.29.2024 1USD=7.095RMB
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US West Coast scrap export prices fall; East Coast flat

https://en.steelhome.com [SteelHome] 2019-04-26 15:57:56

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Activity in the United States' ferrous scrap export market is mixed, with the East Coast quiet while cargoes are selling from the West Coast at discounted prices amid signs that downward pressure will continue.

Turkish mills are still short on material and looking for cargoes, one source said, noting that Baltic sellers are offering material in the $310-315-per-tonne-cfr range but no buyers have accepted this price. Baltic sales generally trade at a $5-per-tonne discount to US-origin sales.

Turkey has been absent from the global and US ferrous scrap markets since Tuesday April 16. Its most recent purchase from the US included 18,000 tonnes of an 80:20 mix of No1 and No2 heavy melting scrap (HMS) at $312.50 per tonne cfr, 10,000 tonnes of shredded scrap at $317.50 per tonne cfr and 2,000 tonnes of bonus-grade scrap at $322.50 per tonne cfr.

Dock prices along the East Coast were mixed, with prices for No1 HMS unchanged in Boston and in New York at $250 per gross ton and $270 per ton respectively, but down by $10 in Philadelphia to $250 per ton.

With no activity on the East Coast, Fastmarkets AMM's weekly East Coast ferrous scrap export index for HMS held at $294.99 per tonne fob New York on April 23 and the shredded index was flat at $300.33 per tonne fob New York.

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