US ferrous scrap export prices weaken

Ferrous scrap export prices on both the US East and West Coasts fell in the latest bulk sales transacted to Turkey and South Korea, with offers also softening for containerized scrap.

On the East Coast, Turkish mills returned to the US export market on June 5 with two cargoes booked at $340 and $342 per tonne cfr respectively for an 80:20 mix of No 1 and No 2 heavy melting scrap. The prices for this grade are down by $11-13 per tonne from the previous East Coast cargo sale to Turkey on May 4.
The second cargo’s composition, which was previously unreported, has been confirmed to be comprised of 10,000-12,000 tonnes of 80:20 heavy melt and 28,000-30,000 tonnes of shredded scrap.

The next day, a third East Coast cargo was sold at equivalent prices to Turkey. This cargo contained 12,000-14,000 tonnes of 80:20 heavy melt at $340 per tonne cfr, 16,000 tonnes...

Published

Mei Ling Toh

June 06, 2018

18:51 GMT