Optimism is emerging that a bottom has been reached in the United States’ ferrous scrap export market, although this has not translated into higher dock buying prices. In the latest US deals to Turkey reported on Thursday October 17, export prices were up by $11 per tonne. One East Coast exporter sold 12,000 tonnes of an 80:20 mix of No1 and No2 heavy melting scrap (HMS) at $244 per tonne, 8,000 tonnes of shredded scrap at $249 per tonne and 12,000 tonnes of bonus-grade scrap at $254 per tonne.
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