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(AMM) US, EU ferrous scrap export prices heading higher

February 24, 2010 - 20:51 GMT Location: PHILADELPHIA

Ferrous scrap export prices in both the United States and the European Union are driving higher, with expectations of further increases ahead.

On the U.S. East Coast, ferrous scrap prices at the docks have risen to between $290 to $295 per long ton for No. 1 heavy melt delivered to export yards, while the price of a container loaded and delivered to the pier is said to have risen to $315 per tonne for No. 1 heavy melt and $335 per tonne for shredded scrap.

The price moves by U.S. scrap export yards might be driven by a number of forces, industry sources said, pointing to the higher prices being paid for scrap in containers, price increases in Rotterdam and expectations of stronger offshore demand, particularly from the Far East.

It also is likely that the domestic market might be having some impact. One Midwest U.S. mill has already bought shredded at $355 per...

All material subject to strictly enforced copyright laws. © Euromoney Institutional Investor PLC.

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Ferrous

May 23, 2012 14:45 DAILY SCRAP REPORT: Index unchanged on lack of new offers
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May 23, 2012 08:53 SE Asia scrap prices down $15-20 as buyers await market cues
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