US ferrous scrap exports drift in March

US ferrous scrap exports declined marginally in March, with increased volumes to India, Turkey and Peru falling just shy of fully offsetting declines in shipments to Mexico and to several emerging markets.

March ferrous scrap exports – booked in February – slipped by 0.95% month over month, according to US Census Bureau data. After rallying in late 2017, prices for deep-sea ferrous scrap sales to Turkey started to slip in January after Turkish mills aggressively scaled back cargo buys of US material. American Metal Market’s East Coast ferrous scrap export index for heavy melt fell to $321.68 per tonne fob New York on February 7, down from $347 per tonne on January 3. Returning to the US market after that hiatus, Turkish mills snapped up multiple March-delivery cargoes, leading...

Published

May 11, 2018

01:59 GMT