Containerized ferrous scrap price to the US West Coast (USWC) docks increased by close to $10/mt for HMS I/II 80:20 based on deals confirmed last week at $350-355/mt FAS Long Beach port. Asian scrap demand has kept the export market from the USWC afloat even when ocean freight costs have stalled. The price of containerized shredded in the USWC rose by $10/mt to $370-375/mt FAS Long Beach port, and containerized #1 busheling increased by the same amount to $375-380/mt FAS port.
Pakistan’s import scrap prices improved this week, even if slightly so, with imports for shredded material conducted at confirmed levels of $423-430/mt CFR Qasim, up from $420-425/mt CFR the week before. International uncertainty has helped the Pakistani market even though finished steel demand has been subdued, as reported by SteelOrbis. Indian scrap import prices softened in the past week, though, due to lower Indian finished steel prices, currency depreciation, and lower domestic scrap prices.
Containerized scrap prices in the San Francisco Bay Area also increased by the same amount as in Southern California, with the price of HMS I/II 80:20 rising to $345-350/mt FAS Oakland port, shredded to $365-370/mt FAS port, and #1 busheling to $370-375/mt FAS port.
Bulk scrap
Prices for bulk scrap to the USWC docks, on the other hand, have remained stable for another week. In Los Angeles HMS I remained at $280/gt delivered export yard, P&S 5ft at $290/gt delivered, and shredder feed at $215-225/gt delivered. Prices for bulk scrap at the San Francisco Bay Area docks have remained approximately $5/gt below the prices in Southern California.
Houston has seen increases as the May domestic trading cycle brought small increases in scrap prices for the South and Southeast. Contacts in the latter had mentioned that they would need to see a $30-40/gt price improvement across grades for the export market before deciding to return to that market. This week, prices for HMS I increased by $20/gt to $340/gt delivered Houston export yard, P&S 5ft improved by the same amount to $360/gt delivered, and shredder feed did the same to $310-320/gt delivered.
Bulk prices in the Pacific Northwest were unchanged this week at $290/gt delivered Portland export yard for HMS I, $305-310/gt delivered for P&S 5ft and $215-225/gt delivered for shredder feed.
