Scrap prices whipsaw higher on US-Turkey deal

摘要

Turkey has returned to the US ferrous scrap market and purchased a pair of cargoes at higher prices, bringing hope to recyclers that the market bottom has been reached. In the first sale, an East Coast exporter sold a 30,000-tonne cargo comprising 15,000 tonnes of a 90:10 mix of No1 and No2 heavy melting scrap at $245 per tonne cfr, 12,000 tonnes of shredded scrap at $248 per tonne cfr and 3,000 tonnes of bonus scrap at $253 per tonne cfr.