E. Coast scrap prices fall again at docks

May 24, 2012 | 03:05 PM | Sean Davidson

Tags  ferrous scrap, exports, price pressure, scrap prices, Sean Davidson

NEW YORK — Ferrous scrap buying prices at East Coast export yards are under pressure again as weak orders from Turkey have left exporters with large inventories.

One large exporter cut prices by $10 per gross ton on Thursday in the New Jersey-Philadelphia region, while a second exporter set a similar price drop effective May 29, market participants said. It is the second price drop in successive weeks as exporters cut buying tags by $10 to $20 per ton last week after negative sentiment gripped the market (AMM, May 21).....

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