US ferrous scrap export market racing to find new bottom

A major North American exporter has sent shock waves through the ferrous scrap export market after unloading 150,000 tonnes of material within a 24-hour period in an effort to get ahead of a tanking market.

The Montreal exporter sold three cargoes on September 25-26, with each deal lowering the price of HMS 1&2 (90:10), starting from $330 per tonne cfr, then moving to to $325 per tonne cfr, before falling to $312.50 per tonne cfr. A seller to the docks said he was surprised by the latest sale price, which is in...

Published

Lisa Gordon

September 27, 2017

20:58 GMT