US ferrous scrap shortage drives up dock prices

Turkey has gone quiet in the international ferrous scrap export market, but exporters operating at docks in the United States have been scurrying to find enough material to fill vessels scheduled to ship in May and June.

East Coast recyclers booked six scrap cargo sales to Turkey totaling an estimated 200,000 tonnes between Monday April 6 and Thursday April 16. Of this, an estimated 130,000 tonnes is comprised of an 80:20 mix of No1 and No2 heavy melting scrap (HMS), 55,000 tonnes shredded scrap and the remaining tonnes bonus-grade scrap, according to internal data maintained at Fastmarkets. With scrap in short supply due to some recyclers taking temporary closures or banning public customers from entering their businesses due...

Published

Lisa Gordon

April 22, 2020

17:18 GMT

Pittsburgh