US West Coast dock buying prices for ferrous scrap decreased in line with the trend on East Coast and as the latest import scrap deals of HMS 1&2 (80:20) to Turkey reported lower at $251-261/mt cfr.
The lower Turkish deals influenced global scrap prices that were already trending down in Asia from regional factors such as more attractive lower domestic scrap prices, struggling finished steel demand, and market uncertainty influenced by external factors such as the coronavirus.
In Houston the Davis Index for dock prices declined from last week, decreasing by $25/gt for HMS 1&2 (80:20) to $220/gt, delivered, while the Index for P&S 5ft dropped by $25/gt to $215/gt delivered, and shredder feed decreased by $20/gt to $130/gt delivered.
The Davis Index for Portland Davis dock buying prices fell on Tuesday by $7/gt for HMS 1&2 (80:20) to settle at $230/gt delivered, with P&S 5ft dropping by $8/gt to $241/gt, and shredder feed decreasing by $1/gt to $146/gt delivered.
In San Francisco, the Davis Index for HMS 1&2 (80:20) decreased by $16/gt to $205/gt delivered, while P&S 5ft dropped by $14/gt to $216/gt delivered. Dock buying prices for shredder feed decreased by $6/gt to settle at $126/gt delivered.
The Index in Los Angeles also declined with dock buying prices for HMS 1&2 (80:20) decreasing by $17/gt to $163/gt, P&S 5ft falling by $16/gt to $174/gt, and shredder feed declining by $14/gt to $119/gt all prices in delivered terms.