US ferrous scrap exporters have reduced the
scrap buying prices from the West Coast. Prices have fallen by $15/MT last
week and so in this week.
In South America, an exporter lowered the
offer prices by $30-40/MT during September including all grades.
Falling demand from the offshore importers
has pulled the offers down and exporters are expecting the further decline in
the prices.
In a recent deal, containerized HMS 1&2 (80:20)
sold to Taiwan at $330-335/MT CFR, down by almost $50/MT this month. Last month
same grade was traded at $380/MT CFR Taiwan. Market sources in Taiwan are
expecting a further cut of $20/MT CFR in the coming days.
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