Will current US export scrap prices hold steady?

Monday, 19 May 2014 01:40:03 (GMT+3)   |   San Diego
       

US export scrap prices off the East Coast have for the most part held neutral in the past week, with the most recent transactions to Turkish mills still trending in the approximate range of $374-$377/mt CFR for HMS I/II 80:20, $379-$381/mt CFR for shredded scrap and $384-$389/mt CFR for bonus grade. Turkish mills, however, are pressuring export yards for lower prices, and it looks like that wish may be at least partially granted.  At this point, SteelOrbis sources are predicting the June export price trend at “soft sideways”, with prices expected to trend down approximately $5-$10/mt. Bonus grade scrap is expected to be the strongest heading into next month, while others believe that “soft sideways” for HMS I/II and shredded scrap might be little more than wishful thinking due to greater weakness seen within those segments.  Prices in the US domestic market trended down as much as $10-$20/lt for May buys in some regions, and they too see a soft-sideways trend for June. 

Similar articles

Mexican domestic scrap prices

28 Mar | Scrap & Raw Materials

Carbon and stainless scrap prices in Taiwanese domestic market - week 13, 2024

28 Mar | Scrap & Raw Materials

Turkey’s deep sea scrap prices stabilize at $385-390/mt CFR

28 Mar | Scrap & Raw Materials

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