East, West Coast US ferrous scrap cargo sales come to light amid continued dockside price pressure
Published by:Geoff Mattson<>
21 Apr 2025 @ 20:25 UTC

US ferrous scrap export prices extended their downward trajectory following cargo sales from both the East and West Coasts, as weak global demand, subdued Turkish buying and an abundance of cargo availability continued to weigh on the market, sources told Fastmarkets on Monday April 21. A US East Coast deal was heard on Friday April 18, with an East Coast exporter reported to have concluded a sale with a mill in Turkey’s Marmara region at $331.50 per tonne for heavy melting scrap No1 and No2 (80:20).
This marks a significant drop from a previously-confirmed East Coast sale at $355 per tonne CFR to Turkey earlier in the week. Another cargo from the East Coast to Greece was also reported by market sources on April 17, although specific details remain unconfirmed.
Sources indicated that the market is awash with cargoes, with at least 16 cargoes reported to be offered currently, contributing to sustained downward price pressure.
On the West Coast, a cargo sale to Vietnam was also reported on April 18, at $347-348 per tonne CFR for HMS 1&2 (80:20) and $357-358 per tonne CFR for plate and structural (P&S) scrap.
This latest cargo was sold at a notable discount to the previously-confirmed West Coast sale to Bangladesh, done late in the week ended April 11 at $370–375 per tonne CFR for HMS 1&2 (80:20). However, market sources noted that freight rates to Vietnam are typically much lower than to Bangladesh, which likely influenced this transaction and places it broadly in line with earlier deals.
Export yard prices extended their declines for a third consecutive week on the East Coast but were unchanged on the West Coast in the week beginning April 21.
Fastmarkets’ assessments of the export yard buying prices for steel scrap No1 heavy melt, delivered to yard in Philadelphia and New York both declined by $25 per gross ton to $240 per gross ton on Monday, erasing all gains made during the first quarter and returning to levels from early January.
The scrap No1 heavy melt, export yard buying price, delivered to yard Boston fell by $10 per ton to $225 per gross ton on April 21, the lowest since December 2024 but still above the January average.
In contrast, the assessment of steel scrap No1 heavy melt, export yard buying price, delivered to yard Los Angeles was unchanged at $140 per gross ton on Monday, steady for a third consecutive week.
Prices on the West Coast rose from $135 per gross ton at the start of January to a peak of $155 per ton through March, before falling back by $15 per ton in early April. The current level represents a modest $5 per ton gain in the year to date.