Containerized ferrous scrap prices fas US ports increased on the East and West Coast this week on stronger export inquiries, active transactions, and expectations of higher price movements into the end of February. 

 

The Davis Index for containerized ferrous scrap in New York increased with #1 busheling increasing by $24/mt to $279/mt fas, while HMS 1&2 (80:20) rose by $12/mt to $244/mt fas. The index for turnings increased $9/mt to $202/mt fas while P&S 5ft moved up by $15/mt to $270/mt fas. The index for shredded also increased by $15/mt to $268/mt fas.

 

In Los Angeles, the Davis Index for containerized ferrous scrap went up with #1 busheling increasing by $15/mt to $249/mt fas, HMS 1&2 (80:20) rising by $6/mt to $220/mt fas, P&S 5ft moving up $5/mt to $239/mt fas, and shredded increasing by $6/mt to $240/mt fas.

 

The Davis Index for containerized ferrous scrap in San Francisco increased in tandem with Los Angeles with #1 busheling increasing by $15/mt to $249/mt fas, HMS 1&2 (80:20) moving up by $6/mt to $220/mt fas, P&S 5ft rising by $5/mt to $239/mt fas, and shredded increasing $6/mt to $240/mt fas.

 

In Seattle, the Davis Index for containerized ferrous scrap also increased with #1 busheling increasing by $10/mt to $250/mt fas, HMS 1&2 (80:20) rising by $9/mt to $224/mt fas, P&S 5ft moving up by $10/mt to $250/mt fas, and shredded going up by $9/mt to $249/mt fas.

 

According to market participants, some suppliers were reluctant to sell at present prices and preferred to wait for prices to rise. Sources also reported that #1busheling gained more rapidly than other grades as mills increased their inquiries and purchases of the better grade.

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