US ferrous scrap export prices stable

US bulk ferrous scrap export prices flatlined due to a lack of confirmed activity, with supply concerns limiting the amount of offers in the deep-sea market and bringing the East Coast containerized shredded scrap price rally to a temporary halt.

No cargo sales were confirmed off either the US East or West Coast over the past seven days but there were rumors of an alleged bulk sale off the East Coast to Egypt at $385 per tonne cfr for an 80/20 mix of No. 1 and No. 2 heavy heavy melting scrap. US exporters are seeking as high as $390 per tonne cfr on new cargo offers to Turkey, sources said. Turkish mills resumed bookings for February delivery this week and prices on the latest sales have moved beyond $370 per tonne cfr for 80/20 heavy melt. A Russian cargo sold to Turkey at $374 per tonne cfr, while a European cargo traded at $376 per tonne...

Published

Mei Ling Toh

January 10, 2018

22:01 GMT