US containerized ferrous scrap export prices continued to decrease for the second straight week on lower scrap prices expectations after the February US domestic ferrous trading week and Asian markets slowing down due to the Chinese New Year holiday.
The weak Asian demand was exacerbated by lower Turkish import scrap buying prices with HMS (80:20) to Taiwan declining by $10/mt to $225-230/mt fas Los Angeles on Thursday from $235-240/mt last week.
The weekly Davis Index declined across all grades with #1 busheling fas Los Angeles Port decreasing by $5/mt to $249/mt, HMS 1&2 (80:20) declining by $10/mt to $229/mt, turnings dropping by $6/mt to $110/mt, P&S 5ft decreasing by $6/mt to $250/mt, and shredded decreasing by $8/mt to $257/mt, all prices in fas terms.
The Davis Index for # 1 busheling fas San Francisco port was down by $5/mt to $258/mt, while the Index for HMS 1&2 (80:20) dipped by $8/mt to $231/mt. P&S 5ft decreased by $5/mt to $248/mt fas and shredded also declined by $5/mt to $248/mt all prices in fas terms.
In Seattle the Davis Index decreased by $5/mt across all grades compared to the previous week with #1 busheling decreasing to $244/mt, HMS 1&2 (80:20) dropping to $229/mt, P&S 5ft falling to $246/mt, and shredded decreasing to $248/mt, all prices in fas terms.
Compared to the previous week, the Davis Index for containerized scrap in New York also decreased across all grades with #1 busheling sliding by $11/mt to $272/mt, HMS 1&2 (80:20) declining by $7/mt to $251/mt, turnings decreasing by $9/mt to $209/mt, P&S 5ft falling by $4/mt to $272/mt, and shredded dipping by $6/mt to $268/mt, all prices in fas terms.