US East Coast export scrap market “too soon to call”

Monday, 07 April 2014 21:29:24 (GMT+3)   |   San Diego
       

Ex-US scrap booking to Turkey may have fallen quiet in the past two weeks, as Turkish mills have been more focused on booking orders from ex-Baltic and ex-European sources.  The most recent bookings for cargos of heavy melting scrap I/II (80:20 blend) and shredded scrap were transacted at approximately $370/mt CFR for HMS I/II and $375/mt CFR for shredded scrap, although sources close to SteelOrbis say prices could firm between $5-$10/mt CFR as the month moves on.  This could be tied to trends within the US domestic market, which has also shown signs of firming.

Scrap yards in the South have reported price increases of $10/lt while yards in Northern Ohio say prices have firmed by as much as $25/lt. On the flip side of that coin, some Turkish rebar mills are also keeping a close watch on the pending US preliminary dumping margins that are set to be announced on April 18.  Although Turkish mills anticipate the margins will be low, at best, if they are announced at a higher-than-expected rate, the effect on exports to the US—and consequently, rebar production—could trickle down to raw material buys from the US


Similar articles

CISA: Coking coal purchase cost in China down 9.86% in Jan-Feb

28 Mar | Steel News

US scrap market still expecting sideways pricing in April

27 Mar | Scrap & Raw Materials

Ex-US deep sea scrap prices to Turkey increase, ex-EU prices relatively stable

27 Mar | Scrap & Raw Materials

Downtrend reverses in Pakistan’s import scrap segment

27 Mar | Scrap & Raw Materials

Average local Chinese scrap prices rise amid tight supply after previous decreases

27 Mar | Scrap & Raw Materials

Import scrap prices in India move up, but low bids prevent deals

27 Mar | Scrap & Raw Materials

Baltic countries and Czech Republic seek EU ban on ex-Russia scrap imports

27 Mar | Steel News

US iron and steel scrap exports down 12.9 percent in January

26 Mar | Steel News

European scrap prices move up above $385/mt

26 Mar | Scrap & Raw Materials

Wholesale metal scrap sales in Mexico decrease 15.6 percent in January

25 Mar | Steel News