Containerized ferrous scrap prices remained range bound in New York but ticked up in Los Angeles on Thursday.
The weekly Davis Indexes in New York increased by $1/mt for #1busheling to $239/mt fas, but decreased for HMS 1&2 (80:20) by $1/mt to $208/mt fas. The index for machine turnings decreased by $1/mt to $176/mt fas, fell for P&S 5ft by $2/mt to $227/mt fas, and dropped for shredded by $1/mt to $227/mt fas.
Prices on the East Coast were supported by scrap purchased by Turkey and returning interest of Asian buyers. Export markets remain in poor shape as countries such as India and Pakistan are battling with thousands of containers stuck at their ports due to COVID-19 lockdown orders. However, containers are expected to begin clearing more efficiently next week with government clearances, due to the essential nature of the steel commodity.
In Los Angeles, the weekly Davis Indexes increased across all grades as Taiwan and Vietnam actively purchased scrap. The Davis Index for #1busheling increased by $5/mt to $215/mt fas and was up for HMS 1&2 (80:20) by $9/mt to $199/mt. The index for P&S 5ft decreased by $1/mt to$215/mt fas, and increased for shredded by $6/mt to $222/mt fas. HMS 1&2 (80:20) is reported at $220/mt cfr Taiwan, up $10-15 from $205-210/mt cfr Taiwan last week.
The weekly Davis Index in San Francisco was flat for #1busheling at $225/mt fas and increased for HMS 1&2 (80:20) by $10/mt to $191/mt fas. The index for P&S 5ft remained unchanged at $217/mt fas and rose for shredded scrap by $7/mt to $223/mt fas.
In Seattle the Davis Indexes mostly remained rangebound with #1busheling flat at $210/mt fas, HMS 1&2 (80:20) increasing by $5/mt to $185/mt fas, P&S 5ft rising by $2/mt to $210/mt fas and shredded also increasing by $2/mt to $210/mt fas.