Reportedly, the decreased export prices of the US scrap over the past two weeks have caused the scrap prices fall in the US domestic market in early September.
Last week, the transaction prices of the US scrap exported from Eastern America to Turkey were at US$395~US$400/ton C&F, falling by US$10~US$12/ton from US$410~US$412/ton C&F in end of August.
Furthermore, it's predicted that the US scrap export prices may slide further by US$5~US$10/ton in the short term as the slumped iron ore prices and fierce price competition caused by low-priced Chinese steel products has depressed the scrap demand from Far East.