US West Coast and Houston dockside ferrous scrap prices were flat this week, as buyers in Asia, Turkey, and elsewhere remained quiet.
Factories across various industries in countries like Taiwan and South Korea have operated at lower levels due to supply chain bottlenecks caused by the Covid-19 virus, resulting in raw material supply shortages. Steel mills have either moved maintenance shutdowns ahead of schedule to early March or reduced production altogether.
In Los Angeles, Davis Indexes were unchanged for the fourth consecutive week at $162/gt delivered for HMS 1&2 (80:20), $174/gt delivered for P&S 5ft, and $112/gt delivered for shredder feed. Davis Index learned that some large demolition suppliers received an additional $5-10/gt above average prices this week. It remains to be seen if it was an anomaly or indicative of potential price movements. Export demand is presently subdued with limited container bookings and no vessels expected along the Long Beach shoreline in the next week.
The weekly Davis Indexes in San Francisco were flat with HMS 1&2 (80:20) at $190/gt, P&S 5ft at $199/gt, and shredder feed at $116/gt, all prices in delivered terms.
In Portland, market uncertainty concerning exports, and a slight increase in domestic scrap prices, balanced expectations and resulted in the Davis Index for HMS 1&2 (80:20) remaining at $216/gt delivered, while P&S 5ft and shredder feed respectively held at $230/gt delivered and $139/gt delivered.
The indexes in Houston were unchanged at $225/gt for HMS 1&2 (80:20), $245/gt for P&S 5ft, and at $140/gt for shredder feed, all prices in delivered terms.
Los Angeles container prices for HMS 1&2 (80:20) were at $220-225/gt fas Los Angeles, but this week the heard range is down by $5/gt at $215-220/gt fas Los Angeles.