US ferrous scrap export prices rise

The United States' ferrous scrap export market is enjoying renewed activity and better prices on both the East and West Coast, which is also working to tighten supply in the domestic market ahead of November's trade.

On the East Coast, two additional cargoes were sold to Turkey this week at $292 per tonne for an 80:20 mix of No1 and No2 heavy melting scrap, $297 per tonne for shredded scrap and $302 per tonne for bonus-grade scrap.  The selling price for the cargoes was up by $6 per tonne from the prior US sale for HMS 1&2 (80:20) and marked nine cargoes - or an estimated 307,000 tonnes - committed to Turkey since October 8.   Collectively, nine cargoes were sold in the entire August and September timeframe so the October bookings are the equivalent of all the bookings to Turkey in the two prior months. “I don’t think the HMS price [will] hit $300...

Published

Lisa Gordon

October 28, 2020

19:42 GMT

Pittsburgh