E. Coast export yard buying prices jump

Aug 09, 2012 | 04:47 PM | Sean Davidson

Tags  scrap, exports, Turkey, export yards, Philadelphia, New York, New Jersey, East Coast Sean Davidson

NEW YORK — Stronger domestic markets and a recent jump in ferrous scrap export prices to Turkey have led to a much anticipated rise in buying prices at East Coast export yards.

Market participants said prices of scrap supplied to the export docks lining almost the entire East Coast have risen between $15 and $30 per gross ton over the past week.

The rise comes as exporters look to fill previously booked bulk orders of heavy melt to Turkey and shred to India. This week’s early sale of three vessels carrying mostly heavy melt will also put pressure on yards to fill inventory, sources said.....

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