US ferrous scrap export prices diverge ahead of national holiday

Export appetite for US deep-sea ferrous scrap cargoes was muted in the week to Wednesday November 25 despite a spate of activity at the beginning of the month.

Still, market sources were quick to point out underlying market strength, with reported container shortages and rising ocean freight rates expected to bolster the export market in the near future. No cargo sales booked from the US East Coast have been reported to Fastmarkets since November 11, when a 40,000-tonne cargo containing an 80:20 mix of No1 and No2 heavy melting scrap was sold to Turkey at $306.50 per tonne cfr. That price was up by $1.50 per tonne from the prior US sale, booked the day before. Therefore, Fastmarkets’ steel scrap HMS 1&2 (80:20),...

Published

Amy Hinton

November 25, 2020

22:38 GMT

London