US ferrous scrap export market showing signs at cooling

Sentiment in the United States' bulk cargo ferrous scrap export market has been dampened by falling dock prices on the East Coast and a lower-priced deal off the West Coast to South Korea.

On the West Coast, one exporter sold a cargo to South Korea around Tuesday September 29, with an 80:20 mix of No1 and No2 heavy melting scrap (HMS) priced at $306 per tonne.
This was the first West Coast cargo sale noted since a deal to Bangladesh in mid-September, in which HMS 1&2 sold for $330 per tonne. Market participants expect the market to fall by $15 per tonne, with the next sale likely to be at $315 per tonne.

Based on the new sale, Fastmarkets’ steel scrap HMS...

Published

Lisa Gordon

September 30, 2020

19:11 GMT

Pittsburgh