US export scrap market trends quiet amidst holidays
It’s been a relatively quiet week within the US export scrap market, as many sellers have taken time off to celebrate the year-end holiday season. Export yards, however, have expressed confidence that transaction pricing to Turkey will firm after the first of the year.
Although Turkish mills did not expect to see a firming in scrap prices until after demand for finished steel products improved, winter-weather conditions and slowed inflow into US export scrap yards have caused a tightening in supply. Turkish producers say they will continue to push for higher prices for finished steel products to help offset increased scrap costs, although whether the attempt will be successful may not be seen until after the first of the year.