Analysis
September 10, 2026
US East Coast scrap export prices increase
Written by Stephen Miller
The prices for export scrap from the US East Coast jumped by $5 per metric ton (mt) on recent sales.
After several sales of HMS 80/20 in August, which had trouble breaking stagnant price levels of $375/mt CFR, there were two transactions at $380. And, this morning, a third cargo was reported, which pushed up the price to $390/mt, an additional $10/mt increase.
In Northern Europe and the UK, prices went up on several bookings commensurate with the increase of $5/mt of US sales. In fact, one UK cargo of HMS traded hands at $382/mt. As of press time there has been no confirmed buying from Europe based on the most recent US sale at $390, but further increases are definitely expected.
So, where are export prices going as we approach Q4?
Sources weigh in
SMU spoke with a scrap trader based in Italy who said he is optimistic about scrap demand in the Mediterranean Basin.
He said the Italian market should rise $10/mt in October and there could be demand for deep-sea cargoes. Regarding Turkey, he said his sources there are saying rebar prices have broken well above $600/mt, which has increased their ability to absorb higher scrap prices going forward. For scrap sellers, “The mood is positive,” he added.
Another source in the same region believes prices have nowhere to go but up. He said there is a lack of supply. Seasonal strengthening will add to the cost of imported cargoes from US, Canadian, and European suppliers as we enter the autumn months.
SMU spoke to a US-based scrap executive who said the $10/mt jump in bulk exports of HMS 80/20 puts shredded scrap at $410/mt CFR and noted the price is creeping up on US domestic levels. He said it is too early to tell if this will affect shredded prices in the US going forward. The export terminals will still continue to ship most of their material inland. He noted that it certainly will prevent prices from going down here.
A trading source has told SMU the transatlantic bulk freight rates will have an effect on the price of scrap shipments on a delivered basis. He estimated the current ocean freight for Handymax-sized vessels at $45-48/mt. The continuing problems in the Persian Gulf and Red Sea appear to be continuing and these rates could still increase.
Summing up
After considering the information and opinions of these various sources, it seems there is certainly potential for continuing upward movement in the export market from the US East Coast. The effect of increased Turkish buying, expected seasonal strengthening, and elevated logistical costs will all play a role.
