The weekly dockside Davis Index for ferrous scrap increased in Houston but was rangebound on the West Coast.
Export yard buying indices climbed again in Houston, with the weekly Davis Indexes for HMS 1&2 (80:20) increasing by $13/gt to $193/gt delivered dockside, P&S 5ft rising by $5/gt to $203/gt delivered, and shredder feed going up by $5/gt to $130/gt delivered. Few docks in Houston are buying actively due to the uncertainty in the US domestic May ferrous scrap trade, weak export inquiries, and lower Turkish import scrap prices in the past two weeks.
In Los Angeles, the Davis Indexes remained unchanged with HMS 1&2 (80:20) at $135/gt delivered dock, P&S 5ft at $152/gt delivered, and shredder feed at $88/gt delivered.
The Davis Indexes in Portland for HMS 1&2 (80:20) declined by $1/mt to $156/gt delivered dockside and remained unchanged for P&S 5ft at $167/gt delivered. The index for shredder feed increased by $8/gt to $117/gt delivered dockside.
Portland is one of the only regions on the West Coast where higher mill prices could put pressure on exports as both compete for the same material. As a result, the opinion on the regional effect from domestic demand is mixed in this region and ranges from sideways to a slight uptick during the May ferrous scrap trading week that could begin on May 4.
The indices in San Francisco remained unchanged for HMS 1&2 (80:20) at $159/gt delivered dock, P&S 5ft at $177/gt delivered, and shredder feed at $124/gt delivered.