Published by:Geoff Mattson<>
9 Apr 2025 @ 21:10 UTC
The US ferrous scrap export market remains lackluster, with US East Coast and West Coast indices unchanged amid trade uncertainties and tariff developments, as sources indicated that participants remain on the sidelines due to a market that is unpredictable and largely sentiment driven.

One US East Coast export source highlighted the volatility, stating to Fastmarkets on Wednesday April 9, “This market is so unpredictable and it’s exclusively sentiment driven. The impact of the trade tension is causing global economic turmoil, which is changing by the minute. If I put a price on it [for US export offers], that number will be different in a few hours.”
A source active in both domestic and export markets echoed similar statements: “Everybody’s just kind of waiting to figure out what the impact will be from these tariffs. But I think Turkey will be back in the market later this week, and I think they’re going to knock the price down $10 or $20 [per tonne].”
Thelast reported US export cargo salewas for a cargo containing a 90:10 mix of No1 and No2 heavy melting scrap (HMS) at $387.50 per tonne CFR and plate and structural (P&S) material at $402.50 per tonne CFR. It was purchased by a mill in Turkey’s Marmara region, booked on Thursday March 27, and confirmed by Fastmarkets on Friday March 28.
On Wednesday, President Donald Trump authorized a 90-day pause on many reciprocal tariffs, reducing them to a universal 10%, while increasing tariffs on Chinese imports to 125%.
By reducing most reciprocal tariffs to a uniform 10% rate (while excluding China), the US government intended to reduce the trade deficit by encouraging domestic consumption of US-made goods and discouraging imports perceived as unfairly subsidized.
It is important to note that the 90-day tariff pause applies specifically to reciprocal tariffs. The Section 232 tariffs of 25% on imported steel and aluminum, implemented on March 12, remain in effect. These tariffs were intended to address national security concerns and are separate from the reciprocal tariffs currently under suspension.
The US dollar rose immediately following the announcement before settling nearly unchanged from the previous day at 102.97 at the time of publication on April 9. The euro strengthened against the dollar, with the exchange rate reaching €1 to $1.0996, up 0.4% from the prior day. The Turkish lira weakened marginally, with the exchange rate at 37.99 lira to $1 at the time of publication, a 0.11% increase from the previous session.
Scrap conversion costs in Turkey have come under pressure, sources told Fastmarkets, with costs currently around $200 per tonne but increasing.
Conversion costs are coming up because of the energy hike; costs increased between $5 to $10 per tonne for Turkish mills because of the energy hike, the East Coast export source said.
Since electricity is used to smelt the majority of scrap for rebar production and natural gas is used to melt billet, Turkish mills prefer to use the latter feedstock in the face of the increasing electricity costs, sources said.
Chinese billet was heard being offered at $455-465 per tonne CFR.
Additionally, Turkish mills arecontending with weak finished steel sales and downward pressure on prices due to recently announced tariffs.
“These tariff wars have shaken the market, and their effects will last long. The truth is, countries will have to rely on their domestic markets in this period. Turkish mills are trying to maintain their rebar offers at $580 per tonne, but the demand is very weak,” a trading source told Fastmarkets.
Fastmarkets calculated itssteel scrap HMS 1&2 (80:20), export index, fob New Yorkat $352.50 per tonne on April 9, unchanged from April 2 amid an absence of reported US cargo sales during the period.
Fastmarkets’ weeklysteel scrap HMS 1&2 (80:20), export index, fob Los Angeleswas unchanged for the second consecutive week at $318.50 per tonne on Wednesday. Thelast reported cargo sales from the West Coastwere heard during the week of March 14, when one exporter sold HMS 1&2 (80:20) at $383–385 per tonne CFR and another at $383 per tonne CFR.
In the bellwether Taiwanese market, US-origin containerized steel scrap prices moved lower in the week to Tuesday April 8 due toreduced activity around regional holidays and uncertainty surrounding the impact of new US reciprocal tariffs. Trading slowed amid the Children’s Day and Tomb-Sweeping Day holidays on April 3-4, while buyers remained cautious ahead of the April 9 implementation of tariff changes.