US East Coast ferrous scrap export prices continue to face downside pressure following a recent cargo sale to Turkey, while business activity off the West Coast remains muted.
A Turkish steel mill bought a United States-origin cargo for September shipment comprising 30,000 tonnes of heavy melting scrap 1&2 (80:20) at $461 per tonne as well as 5,000 tonnes of shredded and 5,000 tonnes of bonus, both at $476 per tonne. That cargo was believed to have been booked on Friday August 6 and compares with an earlier deal reported on August 4 containing HMS 1&2 (80:20) at $464 per tonne and shredded at $479 per tonne cfr.Fastmarkets' steel scrap HMS 1&2 (80:20), export index, fob New York was calculated at $413...