US ferrous scrap export prices to Turkey stabilize

Ferrous scrap export prices from the United States to Turkey leveled out after nosediving by almost $50 per tonne but this did not stop local buying prices at Eastern export yards from declining further.

Four cargoes – three from the East Coast and one from the West Coast – traded to Turkey and South Korea during the seven days leading up to Wednesday January 9. The first bulk deal to Turkey transacted on January 4, while the remaining two cargoes traded four days later. Prices in all three sales were similar - $280 per tonne cfr for an 80:20 mix of No1 and No2 heavy melting scrap (HMS), $285 per tonne cfr for shredded scrap and $290 per tonne cfr for plate and structural and bonus-grade scrap. Fastmarkets AMM’s East Coast ferrous scrap export index for HMS fell to $260 per tonne fob New York...

Published

January 09, 2019

22:49 GMT

New York