US: Ferrous scrap export prices rise by $7/t w-o-w amid strong Turkish mill demand

• Tight supply pushed Turkish mills to secure shipments
• Rising freight and collection costs supported US scrap demand

US ferrous scrap export prices rose by $7/tonne (t) w-o-w, as the market gained traction amid tight supply and strong demand from Turkish mills.

Market participants reported growing interest from Turkish mills, with prices discussed around $340/t CFR. The improved sentiment was largely driven by limited availability, ongoing October bookings, and the push by mills to secure material, rather than by increased demand alone.

A participant noted that inventories at several US scrap yards were unusually low, suggesting constrained supply when demand picks up.

FOB assessments (US East Coast, bulk)

• HMS 80:20 – $310/t, up by $7/t w-o-w
• Shredded – $330/t, up by $7/t w-o-w

Updates on key importers

Turkiye: Demand for US-origin ferrous scrap in Turkiye strengthened late in the week, recovering after a midweek dip. The improved demand was driven by limited supply, ongoing October bookings, and rising freight and collection costs.

Factors shaping Turkish scrap demand

• Limited availability of US-origin material pushed mills to secure shipments quickly
• Turkish mills were actively booking October cargoes to meet production needs
• Rising freight and collection costs, driven by the grain season and European coal stockpiling, prompted buyers to secure US-origin scrap.

Bangladesh: Demand for US-origin ferrous scrap in Bangladesh remained soft, with HMS 80:20 bulk prices slipping w-o-w. A Dhaka-based market insider noted limited trading activity, with buyers showing little response amid available offers. Australian-origin HMS 90:10 was seen at $345-350/t, PNS from Malaysia at $385-387/t, while local shredded scrap and HMS grades remained steady, reflecting cautious buyer interest in US-origin material.

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

• Turkiye – up by $7/t w-o-w at $342/t.
• Vietnam – down by $2/t w-o-w at $338/t.
• Bangladesh – up by $1/t w-o-w at $352/t.

Outlook

The US ferrous scrap export market is expected to remain under pressure in the short term. Key buyers, particularly in Turkiye, remain cautious amid weak steel demand and rising freight costs. Prices appear near a short-term floor, with any recovery dependent on stronger mill demand.