Tag: Federal Reserve rate cuts

US: Ferrous scrap export index drops $5/t w-o-w as Turkiye shifts to cheaper European supply

Nov 15, 2024

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by

Adarsh Ramteke

in Melting Scrap

Stronger dollar turns European scrap prices more attractive Cheaper Asian billets flood Turkiye, other importing regions The US ferrous scrap export index declined by $5/tonne (t) w-o-w. US scrap prices were higher than those in Europe, amid a stronger greenback, which led to reduced demand from Turkiye. Additionally, the influx of cheaper Asian billets into…