Containerized ferrous scrap export prices on the East Coast declined and remained mostly unchanged on the West Coast this week.
The Davis Index for containerized ferrous scrap fas New York continued to decline across all grades except turnings, which increased by $8/mt to $217/mt. Prices for turning have declined since early January but within deals and negotiations can exhibit a wide price variance.
The Index for #1 busheling fas New York decreased $6/mt to $266/mt and slipped by $10/mt to $241/mt for HMS 1&2 (80:20). P&S 5ft decreased $4/mt to $272/mt, and shredded decreased $6/mt to $268/mt.
The East Coast mostly saw price declines on the back of decreasing global scrap import prices for Turkish mills.
The Davis Index declined across all grades fas Los Angeles with #1 busheling decreasing by $1/mt to $248/mt, HMS 1&2 (80:20) falling by $2/mt to $227/mt, P&S 5ft declining by $2/mt to $248/mt, and shredded decreasing by $9/mt to $248/mt.
The Index for containerized ferrous scrap fas San Francisco remained unchanged with #1 busheling at $258/mt, HMS 1&2 (80:20) at $231/mt, P&S 5ft at $248/mt and shredded at $248/mt.
Containerized ferrous exports from Seattle also remained unchanged with Davis Index at $244/mt fas for #1 busheling, $229/mt fas for HMS 1&2 (80:20), $246/mt fas for P&S 5ft, and $248/mt fas for shredded. Market participants in the region expect to resume active offers in early February.
On the West Coast, market participants report a quiet export market due to the tail end of the Chinese holiday, sufficient inventory at Taiwanese mills along with lower domestic scrap prices in Taiwan, and a wait-and-see perspective from Asian buyers pending the US domestic trading week results.