US ferrous scrap export market still dormant

US ferrous scrap sales to Turkey slowed to a standstill after the country's mills entered the market late last week and snapped up Baltic and European cargoes at more affordable prices.

No bulk cargo sales were on either coast of the USA over the past seven days.  Scrap cargoes from the USA are on offer at $273-275 per tonne cfr for HMS 1&2 (80:20) scrap, which is slightly higher than a deal heard on May 25 between a Baltic exporter and Turkey at $272 per tonne cfr. Turkish steelmakers were in the market purchasing material for July delivery after staying out of the market during the first half of last week.  On May 24, there were a handful of mixed cargo deals containing a HMS 1&2 (75:25), along with a variety...


Mei Ling Toh

May 31, 2017

20:07 GMT