US ferrous scrap export market quiet; prices steady

The United States' ferrous scrap export market has been quiet since the Memorial Day holiday on Monday May 25, but exporter are actively working to fill sales from both the West and East Coast.

On the West Coast, a recent cargo of an 80:20 mix of No1 and No2 heavy melting scrap (HMS) was sold to Vietnam at $260 per tonne, but the date of the bulk sale has not been confirmed. In the region’s container market, HMS has been sold to Taiwan for $234 per tonne.

Fastmarkets’ steel scrap HMS 1&2 (80:20), export index, fob Los Angeles increased by 6.5% to $230 per tonne on May 27 from $216 per tonne the previous week due to the sale to Vietnam.

On the East Coast, a lone sale to Turkey containing 20,000 tonnes of a 95:5 mix of HMS 1&2, 7,000 tonnes of shredded scrap and 3,000 tonnes of bonus-grade scrap was concluded, with the HMS component priced at $250.50 per tonne when equalized on an 80:20 basis.

Fastmarkets’ steel scrap HMS 1&2 (80:20), export index, fob New York was calculated at $233.50 per tonne on May 27, up by 0.7% from $231.83 per tonne the previous week, and the shredded scrap, export index, fob New York increased by 1% to$238.50 per tonne from $236.05 per tonne in the same comparison.

Buying prices for recyclers operating at the docks have been steady, with all competing for material to fill existing orders.

Fastmarkets’ assessment of the steel scrap No1 HMS, export yard buying price, delivered to yard Boston increased by $5 week on week to $200 per gross ton on Tuesday, and was steady in New York and in Philadelphia, at $200 per ton and $195 per ton respectively.

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