Product
January 14, 2025
Export scrap market still faltering to start 2025
Written by Stephen Miller
The export scrap markets continue to lose ground. Unlike the domestic markets in the US and Canada, which have shown some strength in January, there have been multiple sales by US East Coast (USEC) exporters at lower prices, even after the US markets prices settled. And February looks even stronger. There are several reasons for this situation.
Since Jan. 1, the price of export scrap has withered from the high $340s per metric ton (mt) for HMS 80/20 to yesterday’s sale from the USEC at the equivalent price of $335/mt CFR. The outlook is generally for continued weakness. SMU contacted a US-based executive in the export trade who said, “I’m not seeing a firm February for export. No real demand.”
