It has been a quiet
week for U.S. ferrous scrap export trade as stronger domestic prices keep
offshore consumers at bay.
Market sources noted several offers being made from the East
Coast at $10/MT higher, on average from the previous week but there have been
no confirmed deals at the quoted levels.
Bulk offers to Turkey for the 80/20 mix of No. 1 and No. 2
heavy melting steel scrap have ranged between $440 and $450/MT CFR over the
past few days. A mixed cargo a 25,000 MT of A3 scraps and 17,000 MT of shredded
scrap was bought at $440/MT CFR from a Baltic supplier.
Scrap bookings from Turkish steel mills have remained low
last week with only one deep sea cargo reported at a higher price than previous
transactions. According to market players, “Offer prices should continue to
rise as prices in the domestic US market stays firm”.
Leave a Reply