Raleigh Scrap Metal Recycling, NC
Prices Per pound-Lower-Steel-Copper UP!
Raleigh Metal Recycling always works hard to pay the most per pound. As many know we are now paying more than double a year ago. We are sorry to say that prices are going down, tomorrow, Friday about $1.00/Hundred pounds. We are happy to say that copper went up yesterday. We are still buying Junk cars for cash and steel, copper, aluminum, cans, batteries, computers and more! We even can buy a car without a title, no title, if it is 10 model years or older. Come to us from Garner, Smithfield, Durham, NC, Clayton, Apex and more. See below article.
E. Coast ferrous scrap export tags tumble
NEW YORK — U.S. bulk ferrous scrap export prices plunged on the East Coast, with three fresh deals closing at unexpected lows.
Two East Coast exporters sold cargoes to the same Turkish mill Jan. 23 at $255 per tonne c.f.r. for an 80/20 mix of No. 1 and No. 2 heavy melting scrap, $260 per tonne c.f.r. for shredded scrap and $265 per tonne c.f.r. for bonus-grade scrap.
That’s down $27 per tonne from the preceding East Coast sale Jan. 13 at $282 per tonne c.f.r. for 80/20 heavy melt, with the new level leaving many sources puzzled as U.S. bulk offers were said to be at around $270 per tonne c.f.r. late last week.
The first sale was comprised of 25,000 tonnes of 80/20 heavy melt, 10,000 tonnes of shredded scrap and 5,000 tonnes of bonus-grade scrap for delivery in the first half of March; and the second cargo was for 26,000 tonnes of 80/20 heavy melt, 12,000 tonnes of shredded scrap and 4,000 tonnes of bonus-grade scrap.
Details of an earlier bulk sale between a non-traditional U.S. exporter and Turkish buyer surfaced alongside the other deals. Believed to have closed Jan. 19, the cargo was for 23,000 tonnes of 80/20 heavy melt at $265 per tonne c.f.r., 16,000 tonnes of shredded scrap at $270 per tonne c.f.r. and 11,000 tonnes of bonus-grade scrap at $275 per tonne c.f.r.
A trader source believes that international scrap prices are under pressure due to weakness in the Turkish reinforcing bar market and the lira’s depreciation against the U.S. dollar.
But one U.S. dealer source offered a different view.
“The fact that both cargoes were sold at $255 is not an accident. I think (the exporters) are trying to get a new lower floor into the international market and the U.S. domestic market. … It sends a clear message where prices are headed in February,” the source said.
Mei Ling Toh
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