HMS I/II 80:20 bulk scrap offers early this week on the West coast were at $305-310/mt CFR South Korea or Taiwan while ex-US HMS I/II 80:20 containers were offered above $280/mt CFR to Taiwan and South Korea. The spread between bulk and containers was maintained at approximately $25-30/mt.
Today, news of the latest ex-EU deals to Turkey at higher prices increased US export scrap offer prices on the US East coast by $10-15/mt. On the West coast, new offer prices are “in the works” according to a source and are expected to increase $5-10/mt not only as a result of export demand on the East coast and strong domestic demand in the upcoming August buy-cycle, but also as a result of strength in the Asian markets. A source noted that Vietnam, Bangladesh, India, South Korea, Taiwan and Pakistan are expected to increase their demand for ex-US scrap over the next several months.