Low-priced US ferrous scrap export cargoes hit docks

The US ferrous scrap export market remains fatigued due to East Coast docks reducing prices at a feverish pace while cargoes on the East and West Coast have also been sold at lower prices.

Fastmarkets' assessment of the steel scrap No1 heavy melt, export yard buying price, delivered to yard Philadelphia was at $200 per gross ton on Tuesday September 10, down by $10 per ton; and No1 heavy melt at Boston yards fell by $15 to $195 per ton. Sellers in both Philadelphia and Boston indicated that docks were planning to lower the price to $180 per ton in both cities by the end of this week. An East Coast shipper found an alternative home for a cargo, selling 45,000 tonnes of an 80:20 mix of No1 and No2...

Published

Lisa Gordon

September 11, 2019

22:11 GMT

Pittsburgh