Ferrous scrap dock buying prices rose modestly in Boston and New York while East Coast exporters worked to fill four cargoes booked in the past two weeks, although dock prices in Philadelphia held steady on Wednesday May 8.
In Boston and New York, the prices for No1 heavy melting scrap (HMS) increased by $5 per gross ton to $245 per ton and $255 per ton, respectively, while Philadelphia HMS remained at $245 per ton.The slightly higher prices being paid to fill committed cargoes came in spite of an East Coast sale to Turkey reported on May 7, which was priced down $4-6 per tonne from the previous sale.With Turkish mills facing downward pressure...