US ferrous scrap export prices tumble in latest deals

The United States' ferrous scrap export market has weakened on both the East and West Coast, with new sales occurring at lower prices to Turkey and South Korea.

An East Coast exporter sold 30,000 tonnes of a 90:10 mix of No1 and No2 heavy melting scrap (HMS) at $275 per tonne on Wednesday January 29. Equalized to an 80:20 HMS basis, this cargo would be priced at $272 per tonne cfr.
This sale was down by $16 per tonne from the previous sale, reported on January 16, at $288 per tonne cfr on an equalized 80:20 HMS basis. 

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