Ferrous Scrap

US scrap exports listless, echoing domestic mart
Written by Stephen Miller
August 1, 2025
The ferrous scrap export market off the US East Coat and Gulf Coast has remained basically sideways over the last month. This mirrors the lack of movement in the US domestic market.
Now that the domestic market stands poised to move sideways again in August, it seems unlikely there is any upside for export prices in the Atlantic Basin.
The steelmakers in Turkey have completed ordering for August shipment. Prices from the US booked in July averaged $346 per metric ton (mt) CFR for HMS 80/20, with shredded priced at $366. European sales were slightly lower at $342/mt for HMS 80/20.
SMU reached out to an exporter based in Europe to learn their view on the market in the Mediterranean over upcoming months. The estimate was prices could be off a bit in early August. However, the exporter expects prices to bump up as September approaches.
The importation of billets to Turkey could play a role in the possible increase of prices in Turkey. Billets from the Far East, especially China, have gone up in price. In June, Turkey imported approximately 500,000 mt of billets at an average price just under $480/mt CFR, according to the Turkish Statistical Institute. The largest suppliers were Russia, China, and Indonesia, with the MENA nations filling the balance. This price has gone up to over $500/mt over the last week.
The freight rates from the US East Coast to Turkey have remained firm averaging around $28/mt. Freight to Turkey from the US Gulf Coast has increased lately due to competing cargoes of other higher paying bulk commodities.
On the US West Coast, the container market of HMS into Taiwan remains hovering around $300/mt CFR CY. It is only slightly higher in Vietnam, with delivered prices at $305-310/mt.
SMU spoke to a West Coast exporter who told us the bulk export prices to South and Southeast Asia are showing signs of life recently. (He said, he’s not sure why, but there is speculation on increasing steel prices in China.)
One situation that may have delayed recent scrap purchases in South Asia were delays in unloading shipments. There were numerous vessels awaiting discharge at ports in Bangladesh due to horrific monsoons, but this is clearing up now. This is hopefully paving the way for new orders. Prices on a CFR basis are assessed at $352-$358/mt.

Stephen Miller
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