U.S. steel scrap prices hit three-year high

Newswire

LONDON, Jan 31 (Reuters) - Strong export demand for ferrous scrap in the United States has taken prices to their highest level since 1999, traders said on Friday. Scrap suppliers in the U.S. have been swamped with offers from buyers in Asian countries and Turkey in the past two months, which has boosted export and local prices, traders said. The latest auto industry factory bundles prices, the key price indicator to the U.S. steel scrap market, increased by an average of $10 a long ton ...

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