While exporters slightly increased their offers to scrap collecting firms in the course of this month’s trading cycle, the competition for inventory with the domestic market was not sufficient to bolster domestic prices upward.
The East coast scrap market settled soft to sideways for cuts and shredded for the August buy cycle. The range for deal pricing was wider due to a decrease in demand resulting from continued maintenance outages and inventory control measures at mills. Busheling, as anticipated, suffered losses of $10-15/mt ($10-$15/gt) as a result of large prime grade cargoes imported into the US from the UK. Sources close to SteelOrbis reported that East coast scrap firms could obtain $249-$254/mt ($245-250/gt) for busheling delivered to the Ohio Valley and Eastern Indiana regions.
August 8 , 2016 |
|
HMS 80:20 | $178-188/mt ($175-185/gt) |
HMS I | $193-198/mt ($190-195/gt) |
Shredded | $224-229/mt ($220-225/gt) |
Busheling | $239-245/mt ($235-241/gt) |
P&S | $203-208/mt ($200-205/gt) |
July scrap prices in the East coast settled for HMS 80:20 scrap at $188/mt, HMS I scrap at $198/mt, shredded scrap at $229/mt, busheling at $254/mt, and P&S at $203-208/mt, delivered to regional mill.