The weekly West Coast dockside Davis Index for ferrous scrap was flat in Los Angeles and San Francisco with a slight uptick in Portland.
In Los Angeles, dock prices have remained unchanged since early April, but are being assessed at the end of this week for a possible increase in early June, Davis Index was informed. Dock prices increased in Portland because of regional competition for the material. Overall buying prices increased in the region as docks compete with higher domestic scrap prices offered by regional mills, though some sellers report a flat price offering in the northwest. Domestic scrap is expected to trade sideways to strong sideways in the June scrap trading week.
Japanese domestic scrap prices are encountering a slight uptrend as steelmakers resume operations. The increase in export pricing could provide support for US sellers as Japan is an alternative source for scrap to Asian markets.
In Los Angeles, the weekly Davis Indexes remained unchanged with HMS 1&2 (80:20) at $135/gt delivered dockside, P&S 5ft at $152/gt delivered, and shredder feed at $88/gt delivered.
The indexes in San Francisco also remained flat at $160/gt delivered dockside for HMS 1&2 (80:20), at $179/gt delivered for P&S 5ft, and at $126/gt delivered for shredder feed.
The weekly Davis Indexes in Portland increased for HMS 1&2 (80:20) by $4/gt to $163/gt delivered dockside, for P&S 5ft increased by $2/gt to $179/gt, and shredder feed increased by $14/gt to $141/gt delivered.
In the container market, HMS 1&2 (80:20) prices continue at $200-210/mt fas from LA. Some sources report a slight $2-3/mt drop in cfr prices on prime grades such as busheling in the latest transactions to Taiwan.