Tag: US: Ferrous scrap export index down $3/t w-o-w on bearish Turkish demand

The US ferrous scrap export index softened as Turkish mills shifted focus to competitively priced Chinese billets. The influx of low-cost Chinese billets is affecting sentiment in the Turkish ferrous scrap market, with Turkish mills securing Chinese billets at $480-485/t CFR, down from $500/t. For billets to maintain a cost advantage over scrap, prices need…