The weekly West Coast dockside Davis Index for ferrous scrap were unchanged in Los Angeles, San Francisco, and Portland.
Overall, market participants are experiencing flat pricing trends in the export market. Asian mills are receiving higher offers for potential bulk trades, but docks are uncertain about recuperating from any collection price increases because of the overall market uncertainty.
Some domestic market prices in Taiwan and South Korea are increasing on finished steel, but mills are shunning the higher bulk offers. As a result, export transactions are thin as Asian mills are seeking clarity.
Japanese domestic scrap prices were flat this week, although the Kanto auction tender is hinting at potential domestic scrap price increases. The increase in domestic prices could give support to Japanese export offers, a competing source to US scrap. Higher Japanese export offers to Asia could provide US sellers with the opportunity to place volumes at higher prices.
In the container market, HMS 1&2 (80:20) ticked up by $5/mt this week after dropping by the same amount last week, returning to the $200-205/mt fas range with destination prices at $215-220/mt cfr Taiwan.
In Los Angeles, the weekly Davis Indexes remained unchanged with HMS 1&2 (80:20) at $135/gt delivered dockside, P&S 5ft at $152/gt delivered, and shredder feed at $88/gt delivered.
The indexes in San Francisco also held at $159/gt delivered dockside for HMS 1&2 (80:20), at $177/gt delivered for P&S 5ft, and at $124/gt delivered for shredder feed.
The weekly Davis Indexes in Portland were flat for HMS 1&2 (80:20) at $163/gt delivered dockside, for P&S 5ft at $177/gt, and for shredder feed at $127/gt delivered.