US ferrous scrap export prices rise on sale to Turkey

The ferrous scrap export arena in the United States has regained stability after a brief stumble, with prices rebounding on the sale of a fresh cargo from the US East Coast to Turkey early this week.

Two cargoes have been sold from the East Coast to Turkey over the past seven days. Prices dipped by $7 per tonne in a November 9 cargo, which changed hands at $303 per tonne cfr for HMS 1&2 (80:20), $308 per tonne cfr for shredded scrap and $313 per tonne cfr for bonus-grade scrap. But this downtrend was short-lived, and prices made a quick reversal four days later. A second East Coast cargo containing 18,000 tonnes of HMS 1&2 (90:10), 15,000 tonnes of shredded, and 2,000 tonnes of plate and structural scrap (P&S) sold to Turkey at an average price of $312 per tonne cfr. Metal Bulletin sister title American Metal Market’s calculations indicate that this cargo traded at the equivalent of $309 per tonne cfr for HMS 1&2 (80:20), up by $6...

Published

November 15, 2017

20:10 GMT