US ferrous scrap export market said poised to rise

Accelerating import demand for ferrous scrap among Turkish steelmakers and surging European export prices to the region are buoying sellers’ hopes in the United States that the nation's export market has room to rise.

Bullish sentiment on US ferrous scrap exports has been stoked by a price increase of $11.50-17 per tonne in a sale to Turkey during the week ended Friday October 8, although no further deals have been heard since then. European and Baltic cargo sales to Turkish mills, however, began to accumulate rapidly at higher levels at the onset of this week, with four such cargo sales heard thus far. Prices for heavy melting scrap in these cargoes were heard in a range of $463-480 per tonne cfr and those for shredded scrap at $478-490 per tonne. This is equivalent to $468-485 per tonne cfr for US-origin material on an HMS 1&2 (80:20) basis and $483-495 per tonne cfr for US shredded scrap, given...

Published

Amy Hinton

October 13, 2021

19:10 GMT

London