Container prices on both US coasts increased as the higher export scrap deals to Turkey revealed tight supply in the global scrap market.
The latest US deals rose by $27/mt for HMS 1&2 (80:20) compared to the previous deal. The change revealed that US container transactions and dock prices are expected to increase on the East Coast. Additionally, exporters on the East and West Coasts noted rising interest from Asian buyers. However, COVID-19-related lockdowns in Asia have contributed to market uncertainty, and scrap purchases, therefore, remain limited. Container availability and higher freight costs have been challenging on both coasts. Several market participants believe that more buyers will inquire for US-sourced scrap over the next week.
The weekly Davis Indexes in New York increased by $9/mt for #1busheling to $233/mt fas, while HMS 1&2 (80:20) increased by $7/mt to $205/mt, machine turnings increased by $11/mt to $176/mt fas, P&S 5ft increased by $10/mt to $220/mt fas, and shredded increased by $11/mt to $219/mt fas.
The Los Angeles Davis Indexes increased by $28/mt for #1busheling to $223/mt fas, while HMS 1&2 (80:20) increased by $7/mt to $178/mt, P&S 5ft increased by $25/mt to $216/mt fas, and shredded increased by $24/mt to $215/mt fas.
In San Francisco, the indexes rose by $22/mt for #1busheling to $230/mt fas, while HMS 1&2 (80:20) increased by $1/mt to $176/mt, P&S 5ft increased by $17/mt to $217/mt fas, and shredded increased by $16/mt to $216/mt fas.
The Davis Indexes in Seattle Davis increased by $23/mt for #1busheling to $220/mt fas, HMS 1&2 (80:20) increased by $12/mt to $180/mt, P&S 5ft increased by $25/mt to $208/mt fas, and shredded increased by $25/mt to $208/mt fas.