Tuesday, December 14,
According to some industry sources, foreign steelmakers are looking to buy ferrous scrap from U.S. exporters and it may have boosted their buying prices.
One U.S. scrap exporter booked an order from Turkey on Friday at an average price of $450 a tonne delivered, up by about $30 from the last round of buying. At the same time, he added, there have been sales to Turkey by European export yards at about $434 a tonne delivered for an 80/20 mix of No. 1 and No. 2 heavy melt and $420 a tonne for a lower-quality 70/30 mix.
Another U.S. trader also said that U.S. East Coast yard has raised the price that exporters are seeking from eastern Mediterranean steelmakers to a minimum of $444 a tonne delivered for the 80/20 mix.
Higher international scrap prices and stronger demand from Middle East is driving LME steel billet prices which have been increasing since last week.
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