Scrap metal prices increased by US$15/ton in the East US

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Despite of the sluggish demand from Turkey, the scrap prices have soared sharply by US$15/ton in the East US, driven by the strong demand from the US local mills.

In fact, Turkey is the main customer of the scrap mills in the East US; however, the purchase from Turkey has become weak due to the unstable political situation in North Africa and Mid East.

At present, Turkey’s purchase prices of the US container HMS scrap 1:2 (80:20) are at US$447.5~US$450/ton, up by US$2.5~US$5/ton from the previous quote. Furthermore, some US mill increase the prices to US$455/ton C&F; however, the prices were unfavorable for the Turkish buyers. courtesy http://www.yieh.com/