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US scrap suppliers may cut export prices on appreciated US dollar

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It’s reported that the US scrap export prices have remained firm despite of the appreciated US dollar.

At present, the Eastern American suppliers offered HMS 80:20 (1&2) quoted at US$470~US$480/ton C&F to Turkey, remained at the same level over the past two weeks. Meanwhile, the US suppliers offered container scrap quoted at US$490~US$500/ton C&F to China recently due to stable demand.

Market insiders said that the US suppliers may cut the scrap export prices by US$5~US$10/ton to Turkish buyers recently, threatening by the prices cut of European scrap.

Also, Industry sources indicated the European scrap has become more attractive than the US scrap in export market recently as the EURO depreciated against the US dollar.
News Date 27 Sep 2011 10:25:37 reported by Nann Cheng

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