E. Coast docks’ scrap buying prices rise

Oct 23, 2012 | 05:24 PM | Lisa Gordon

Tags  scrap export, No. 1 heavy melting steel, HMS, Lisa Gordon

PITTSBURGH — The East Coast ferrous scrap export market has reportedly found its bottom, with buying prices at the docks showing a modest uptick in Philadelphia and New York, while Boston has remained stable for more than a month.

"Prices are up marginally in the Philadelphia area, and the movement is so slight that you can’t even feel it yet," said one East Coast broker.

Export yards in Philadelphia are now paying $5 to $10 a gross ton higher than they did for recent buys, with most up just $5, sources said. "One exporter was $5 behind its competitor for buying prices and went up $10 to bring pricing parity," said a shredder operator who sells into the export and domestic market.....

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