US scrap exports lackluster, weigh on domestic market

摘要

Falling dock buying prices, a lowerpriced cargo sale and expectations that the domestic market is poised for a drop in February are all weighing on the United States’ ferrous scrap export market. The US has only sold two cargoes to Turkey since the start of the year, which has created a scrap surplus. In the latest sale, an East Coast exporter sold 35,000 tonnes of a 95:5 mix of No1 and No2 heavy melting scrap at $295 per tonne on January 16. Equalized to an HMS 1&2 (80:20) basis, this cargo would be priced at $288 per tonne cfr.