Although
US export
scrap yards have continued to try to get their HMS I/II 80:20 intake costs down, strength within the
US domestic market has made that a challenge. Ultimately, buyers are still paying between $10-$15/mt more than they’d like in order to get material into the yard, not counting the additional cost of getting material loaded into the ship. “
Turkey may continue to push for
US exporters to cut prices, but as of June, it’s not something they were comfortable doing based on their costs,” said one SteelOrbis source. At the same time, recent bookings for HMS I/II 80:20 out of the UK have been on par with what’s been transacted out of the
US, which may help
US export yards hold their line in the sand.
The most recent ex-
US transaction to
Turkey, which took place late last week, had prices for HMS I/II and shredded
scrap trending up approximately $1/mt CFR from levels seen two weeks ago, with current prices at $371/mt CFR for HMS I/II 80:20 and $376/mt CFR for shredded. The most recent ex-
US booking for P&S
scrap, which also took place just over two weeks ago, came in at approximately $380/mt CFR.