US ferrous scrap export prices climb on strong demand

Rising Turkish bulk import prices, brisk demand from global steelmakers and stronger domestic prices in December all worked to improve US ferrous export prices.

Two US cargoes – one from the East Coast and one from the Gulf Coast – were sold to Turkish mills in the past seven days. Shredded scrap in the East Coast cargo transacted at $350 per tonne cfr, which pegs that sale at a similar price level to the Gulf Coast deal done at an average of $350 per tonne cfr. Turkish steelmakers retreated from the deep-sea market on Tuesday December 12 after securing a pair of cargoes - including a Baltic deal at $351 per tonne cfr for 80:20 heavy melting scrap, $356 per tonne cfr for shredded scrap and $361 per tonne cfr for bonus-grade scrap. US exporters are said to be seeking a minimum of $360 per tonne on current cargo offers. While it...

Published

Mei Ling Toh

December 13, 2017

18:05 GMT

New York