US West Coast ferrous scrap dock prices ended the uptrend that began in early August, with increases witnessed across limited docks and grades as end buyers resisted higher offers. 

 

Portland encountered a slight index increase this week after regional docks struck a few higher priced deals as they sought inventories to fill orders. However, Los Angeles and San Francisco remained mostly flat. 

 

Japan’s increasing domestic scrap prices have supported Japanese scrap export offers in the past month along with active demand from Asian countries. Importers though are now assessing finished steel demand in their own countries. Lower finished steel demand prices could place pressure on margins making mill buyers seek alternative sources such as Russia’s A3 scrap. Higher Japanese export offers in small bulk and larger bulk are not reporting trades this week. 

 

Buyers reduced inquiries and bids in the past few days, giving the market a pause. Dock market participants mentioned they were now focusing on fulfilling current bulk orders on tight regional scrap inflows into yards. They remain concerned about softening export prices as Turkish import prices and vessel buys ease. Active buyers from Pakistan, Taiwan, and other Asian destinations are holding bids or remaining silent in anticipation of a price correction. Sellers are also quiet on offers as they gauge the market.

 

The weekly Davis Indexes in Portland increased with the HMS 1&2 (80:20) index rising by $4/gt to $209/gt delivered dockside, while P&S 5ft inched up by $2/gt to $222/gt delivered. The index for shredder feed jumped by $7/gt to $162/gt delivered as regional docks sought inventories in a tight supply period.

 

In San Francisco the weekly indexes increased negligibly with HMS 1&2 (80:20), P&S 5ft and shredder moving up by $1/gt to $208/gt delivered dockside, $210/gt delivered, and $141/gt delivered, respectively. Sources report docks continuing to seek inventories with marginal increases on deals. 

 

After a jump last week, the weekly Davis Indexes remained mostly unchanged in Los Angeles. The index for HMS 1&2 (80:20) and P&S 5ft were flat at $185/gt delivered and $203/gt delivered, respectively while shredder feed ticked down by $2/gt to $144/gt delivered.

 

The containerized market in Los Angeles remained unchanged for HMS 1&2 (80:20) at $235-240/mt fas this week for the second consecutive week after increasing the prior four consecutive weeks.

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