W. Coast container scrap export pricing takes dive

摘要

U.S. West Coast export prices for containerized ferrous scrap appear to be in free-fall, tumbling nearly 13 percent in the past 10 days amid anemic demand and frail iron ore prices. Further declines are anticipated. Exporters have responded with expediency and cut prices for scrap brought into their facilities by near-identical levels. On Monday, at least one exporter in northern California dropped buying prices at its yards by $15 per gross ton, for a combined $30 drop since the start of the month.