US East Coast scrap market quiet; West Coast prices fall

The United States' ferrous scrap export market has gone quiet on the East Coast amid expectations that prices will fall when the next sale to Turkey is completed.

A drop in reinforcing bar prices and demand has provided enough motivation for Turkish mills to stay out of the market for now.
Rebar bids in Turkey have declined to $425 per tonne fob from recent sales at $440 per tonne, one East Coast export market source said, which suggests the next cargo sale from the region could be booked at $265-270 per tonne cfr for an 80:20 mix of No1 and No2 heavy melting scrap (HMS).

The...

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