Downward pressure emerges for US ferrous scrap export market

The conspicuous absence of Turkish mills from the East Coast ferrous scrap export market has started to take its toll, with Boston docks lowering prices effective from Tuesday August 13 and headwinds in global rebar prices likely to drag scrap prices lower.

Fastmarkets’ assessment for the steel scrap No1 heavy melt, export yard buying price, delivered to yard Boston, stands at $230 per gross ton, down by $5 from the prior week and the first official dock buying price drop since the first week of July. Boston docks have announced a $10-per-ton price reduction, and some sellers reported accepting a $5- to $10-per-ton reduction. Docks in other cities have not announced price cuts but are expected to do so due to a lack of sales. Aside from...


Lisa Gordon

August 14, 2019

16:55 GMT