US East Coast ferrous scrap export prices fall on sales to Mexico, Turkey

Prices for ferrous scrap exports from the United States were mixed this week, with those for bulk exports falling in two fresh cargo sales from the East Coast to Mexico and Turkey while containerized heavy melt pricing on the West Coast inched upward due to rebounding demand from Asia.

Turkey returned to the US ferrous scrap export market on April 18 after being absent for weeks, booking a cargo containing 15,000 tonnes of an 80:20 mix of No. 1 and No. 2 heavy melting scrap at $355 per tonne cfr and 15,000 tonnes of shredded scrap at $360 per tonne cfr for delivery in late May.
A second cargo containing 80:20 heavy melt traded off the East Coast to Mexico at $345 per tonne fob. The exact composition of this cargo was unknown as of Wednesday April 18.

On an fob shipping point basis, the Turkish and Mexican deals for 80:20 heavy melt represent declines of $25 per tonne and $8 per tonne respectively from a cargo sale to Egypt on March 28 at...

Published

April 18, 2018

19:26 GMT