Sources inform SteelOrbis that the east coast domestic scrap market also settled early in July due to the holiday break in the week as well as some mills raising prices. Compared to June pricing, a source said, “One of my mills raised their prices in July since their June pricing was designed to lower inventory levels.” A second source added that during the June scrap buy-cycle the concern for export was also a factor in slightly softer results.
Compared to June pricing, US East coast prices are reportedly about $5-7/mt higher in July for HMS I, shredded and P&S scrap grades while prices in deals increased $5-10/mt on prime grades including busheling. A source noted that exporters are still paying “$290-300/gt to dock for HMS I/II 80/20 showing confidence in the export market and balance in the domestic market for August.”
Sources report prices according to the table below.
|
East coast, Delivered to customer |
July |
|
HMS I |
$335-340/mt $330-335/gt |
|
Shredded |
$371-376/mt $365-370/gt |
|
Busheling |
$386-396/mt $380-390/gt |
|
P&S |
$345-356/mt $340-350/gt |