US: Ferrous scrap export prices rise by $2/t w-o-w amid firm Turkish demand

• Limited US-origin supply prompts quick bookings by Turkiye
• Bangladesh demand weakens; mills prefer using existing stocks

US ferrous scrap export prices rose slightly by $2/tonne (t) w-o-w, supported by firm demand from Turkish mills, which actively secured material for October. While Turkey remained the main driver of demand, other regions showed limited interest.

The price increase on the US East Coast was further supported by supply-side constraints in key export regions. Scrap sourcing across the supply chain has become increasingly difficult, with flows in some areas significantly reduced.

Additionally, European suppliers prioritised maintaining firm euro price levels over adjusting for euro-dollar fluctuations, strengthening pricing sentiment.

FOB assessments (US East Coast, bulk)

• HMS 80:20 – $312/t, up by $2/t w-o-w
• Shredded – $332/t, up by $2/t w-o-w

Updates on key importers

Turkiye: Demand for US-origin ferrous scrap remained firm, recovering slightly after a mid-week lull. US-origin HMS 80:20 prices rose by up to $7/t w-o-w, supported by limited availability and ongoing October bookings, even as finished steel demand stayed cautious.

Factors shaping Turkish scrap demand

• Limited US-origin supply prompted quick bookings.
• Mills secured October cargoes to meet production needs.
• Rising freight and collection costs accelerated procurement.

A trader noted that Turkish mills have largely fulfilled their scrap needs, resulting in subdued buying activity in early October. Some dealers pointed to a market deadlock as mills pushed for lower prices while suppliers held firm.

Bangladesh: Demand for US-origin scrap remained subdued due to sluggish construction activity, weak overall steel demand, and mills operating below 50% capacity. Buyers preferred using material stocked in early September rather than committing to new purchases. US HMS 80:20 bulk was offered at $355/t CFR, with bids at around $345/t, reflecting cautious sentiment amid slow project activity and tight budgets.

US-origin HMS 80:20, bulk – CFR assessments

• Turkiye – up by $3/t w-o-w at $345/t.
• Vietnam – up by $2/t w-o-w at $340/t.
• Bangladesh – down by $1/t w-o-w at $351/t.

Outlook

US scrap export prices are expected to remain supported in the near term by recent Turkish procurement, while demand in regions such as Bangladesh may stay muted due to weak domestic steel activity.