US ferrous scrap export market quiet amid correction fears

While recyclers operating at East Coast docks have raised prices to fill existing orders, expectations have been growing that the international ferrous scrap market has peaked and is gearing up for a downward correction.

Turkish steelmakers have been silent in the deep-sea scrap market since September 9, when mills bought four cargoes from Europe, Canada and the United States.

The last US deals included an 80:20 mix of No1 and No2 heavy melting scrap at $301 per tonne, shredded scrap at $306 per tonne and bonus-grade scrap at...

Published

Lisa Gordon

September 16, 2020

22:47 GMT

Pittsburgh