US Ferrous Scrap prices continued to fall on the West Coast this week as
demand remains weak. The prices have fallen on containerized Scrap.
According to a market participant, “There are no deals being heard closed
this week for bulk purchases and container sales are falling rapidly. Offers for containerized Scrap have dropped by another $20 this week.”
HMS 1&2 (80:20 mix) was offered at US$ 380/MT CFR to Taiwan.
Chinese importers likely
to resume purchases
Chinese steel mills and traders might return to the scrap market soon, as
offers to China have reduced sharply.
US HMS 1&2 (80:20) offers to China were at $390-400/MT CFR China on
Wednesday. The offers have dropped by nearly $ 70/MT from last month.
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