Additional East Coast ferrous scrap deal emerges; dockside prices decline
Published by:Geoff Mattson<>
23 Jun 2025 @ 20:40 UTC

A second deep-sea cargo of US-origin ferrous scrap was confirmed sold to Turkey on Friday June 20, with details emerging on Monday June 23, marking continued export activity after nearly a month-long gap in confirmed sales from the US East Coast. The latest cargo, comprising steel scrap HMS No1 and No2 (80:20), was sold at $345 per tonne CFR to a Turkish mill located in the Izmir region. This follows another cargo booked the same day, comprising HMS No1 and No2 (90:10), priced at $345 per tonne CFR to another mill in the Izmir region, equivalent to $342 per tonne CFR on an HMS 1&2 (80:20) basis due to the typical premium of $3 per tonne for the 90:10 grade.
The pricing for these two most recent cargoes closely aligns with levels reported in late May, including the previously confirmed HMS 1&2 (80:20) sale priced at $347 per tonne CFR on May 23, indicating relatively stable market conditions despite subdued activity and limited overseas purchasing interest over the past four weeks.
Meanwhile, dockside ferrous scrap buying prices at export yards along the US East Coast declined this week, pressured by weaker demand and sluggish export sales, sources told Fastmarkets.
Fastmarkets’ assessment for steel scrap No1 heavy melt, export yard buying price, delivered to yard Philadelphia, fell by $5 per gross ton week on week to $245 per gross ton on Monday, down by $10 since June 9 and returning close to January’s level of $240 per gross ton.
The price had peaked at $285 per gross ton in late March, marking a decline of $40 per gross ton since then.
Similarly, the steel scrap No1 heavy melt, export yard buying price, delivered to yard, New York dropped by $5 per gross ton to $245 per gross ton on Monday.
The export yard buying price, delivered to yard, New York has increased by $15 per gross ton year-to-date, from $230 per gross ton on January 6.
The sharpest weekly decline was recorded in the Boston market, where Fastmarkets’ assessment of the steel scrap No1 heavy melt, export yard buying price, delivered to yard, Boston fell by $10 per gross ton to $200 per gross ton on Monday.
The assessment is unchanged year-to-date, having started 2025 at $200 per gross ton and fully retracing the increase of $55 per gross ton from the year-to-date high of $255 per gross ton reached in late March.
The downward pressure aligns with weakening Turkish domestic markets for finished products and imported billet.
Fastmarkets’ assessment of the steel reinforcing bar (rebar), export, fob main port Turkey declined to $540-545 per tonne on Thursday, down from $545-555 per tonne one week earlier and continuing a general downtrend seen since late March.
Similarly, Fastmarkets’ assessment of the steel billet import, cfr main port Turkey fell to $445-455 per tonne on Thursday, down by $5 per tonne week on week and marking a steady decline from highs of $475 per tonne recorded in March.