SteelOrbis has confirmed that dock delivered scrap prices for HMS I/II 80:20 in Philadelphia have plunged in the past week, from $195/gt ($198/mt) to an average of $140/gt ($142/mt). Sources have further confirmed that dock delivered prices for shredder feed are being heard at approximately $100/gt ($102/mt), whereas dock delivered prices for P&S scrap are being heard at approximately $150/gt ($152/mt).
Similar price points are being heard in New York.
Looking north, SteelOrbis has further confirmed that dock delivered prices for HMS I/II 80:20 scrap in Boston are being heard in the range of $135-$148/gt ($138-$150/mt).
“There is a lot of nervousness in the market that Turkish mills might cancel previously booked cargoes,” a source said. However, Istanbul-based sources have said they have not heard of any such plans.