Section 232 tariffs cloud US ferrous scrap export market

United States ferrous scrap export prices were a mixed bag this past week amid uncertainty generated by the implementation of Section 232 tariffs and the absence of a post-holiday price rally in China.

There were no new bulk sales heard from either the US East or West Coast. On the East Coast, prices for containerized shredded scrap took a breather from back-to-back increases, while exporters in Boston caved in to the upward pressure and raised buying prices in the region. On the opposite coast, containerized 80:20 heavy melt prices continued to climb. East Coast exporters are starting to raise export yard buying prices as they look to remain competitive and keep material flowing through their doors after domestic prices for obsolete scrap grades in Philadelphia settled up $15-21 per gross ton  last week. Docks in the Boston area increased prices for No. 1 heavy melting scrap by $10 per ton...

Published

Mei Ling Toh

March 14, 2018

19:43 GMT