The United States' ferrous scrap export market remains robust, with East Coast recyclers again raising prices in a bid to attract scrap while they compete with domestic mills for raw material.
After a series of modest $5- and $10-per-gross-ton increases in recent weeks, No1 heavy melt prices jumped by $15 to $20 per ton at East Coast exporters over the past week.Exporters had been trying to keep a lid on prices, but an explosive domestic scrap market left them no alternative but to increase prices.Fastmarkets' assessment of the export yard buying price for steel scrap No1 heavy melt, delivered to yard Philadelphia and No1 heavy melt, delivered yard New York both rose by $20 per ton for a second consecutive week, to $285 per ton on Monday December 7 from $265 per ton one week earlier.The export yard buying price for steel scrap No1 heavy melt, delivered to yard Boston was...