Ferrous scrap export market sees growth

The export market from the US and Canada has held firm, while slightly strengthening ahead of the domestic buying for February shipment.

In our last export update, SMU reported a US sale to Turkey at $376 per metric ton (mt) CFR for HMS 80/20. Prices were expected to rise to the $380 level, but this never materialized due to the availability of lower-priced cargoes from Europe in the range of $369/mt CFR.

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.

Stephen Miller

Latest in Analysis

Commerce recommends keeping Ukraine plate duty suspension agreement

Reminder: SMU Daily Digest Newsletters starting mid-October

US scrap export activity picks up as prices increase

Nucor increases spot HR to $1,220/ton

Last chance to save: Tampa Steel Conference early-bird rate ends Sept. 30