US East Coast recyclers' buying prices up; exports strong

The United States' East Coast export market has been buzzing with activity, with sellers to Turkey working to fill at least 16 cargoes while domestic mills compete for ferrous scrap to fill their own needs.

In July, at least 16 cargoes totaling an estimated 568,000 tonnes was booked out of the US for shipment in August and September. With some sales remaining quiet, the estimated tonnage was likely higher, according to a seller into the Philadelphia market.
At least two export sources partially attributed the surge in activity to the US dollar hitting a 15-month low versus the Euro, which makes US scrap more price competitive.

"A cheaper dollar...


Lisa Gordon

August 05, 2020

20:02 GMT