NY-area export yards lower buying prices

Mar 21, 2012 | 05:19 PM | Sean Davidson

Tags  ferrous scrap, scrap exports, bulk cargo, container scrap, export yard buying prices, Sean Davidson

NEW YORK — Ferrous scrap export yard buying prices for some grades have dropped about $5 per gross ton from the start of the month at yards from New York to Philadelphia, AMM understands, and the market is rife with speculation that tags could fall another $5 in the coming days.

Market participants in New York, New Jersey and Philadelphia said No. 1 heavy melt dropped to around $385 per gross ton this week from $390 in the first week of March.

Some sources said offer prices were as low as $380 per gross ton at some yards, indicating a $10 drop, but most said larger volumes were trading at around $385 per gross ton.....

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