Ferrous export market defies gravity as prices steady amid domestic freefall

The ferrous scrap export market on the Atlantic and Gulf Coasts of North America has maintained its pricing for several months despite continuing declines in domestic markets.

Turkish export prices have ranged between $380 per metric ton (mt) and $390/mt for HMS 80/20 on a CFR basis. Shredded scrap and Plate & Structural (P&S) have been included in cargoes at a $20/mt premium, resulting in current prices of about $390/mt and $410/mt CFR, respectively.

Stephen Miller

Stephen Miller started his career in the scrap metal industry in 1978 at Luria Brothers in Cleveland. Over the last 40-plus years, he has worked in all capacities in the trading business. He has had positions in both domestic and international scrap trading. In addition to scrap, Miller was at the forefront of the pig iron trade and established a pig iron distribution company under the name of Ferrosource, Inc. Most recently, Miller has concentrated on the scrap export market and regularly does consulting for several companies in the industry.