Market participants expect US Scrap export prices to move up
along with the domestic scrap prices in December and January.
US Scrap exporters said they were testing higher numbers and
would have a clearer price idea later based on supplier response. Two large
exporters off the West Coast said they had raised buying prices on heavy melt
and shredded scrap by $20 per gross ton.
“All of a sudden, from no activity whatsoever, foreign
consumers came back in the market and started buying. We couldn’t make sales
for a couple of weeks, and all of a sudden, activity picked up,” one
exporter said.
However, despite an uptick in demand, the market remains
fragile, he said, adding that he expected the prices to move up further.
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