Although market players’ expectations for June scrap pricing vary, most believe that US domestic scrap prices will continue to remain strong with slight increases. June trading is expected to start in the second half of this week while prices are expected to fully settle next week.

On the West Coast, US-origin containerised HMS 1&2 80:20 offers stand at $235-240/t cfr East Asia, while the most recent booking was concluded at $234/t cfr.

On the East Coast, Turkey has booked some US-origin scrap cargoes last week, mostly at $252.5-253/t cfr for HMS 80:20. However, a Canada origin cargo was sold at $261 average price towards the end of last week. HMS 80:20 price corresponds to $255.5/t cfr in the Canada booking.

This week, US-origin HMS 80:20 scrap prices are expected to stand at above $255/t cfr though Turkey is expected to be less active in deep-sea scrap bookings compared to previous weeks.