Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

Imported ferrous scrap offers in East Asian markets were firm on Thursday. Domestic billet prices in China were were unchanged at CNY4,940/mt ex-Tangshan, inclusive of 13pc VAT.


South Korea 

Hyundai Steel revised bids for three grades of Japanese small bulk cargoes by JPY4,000/mt. The global steel demand is robust while freight rates remain high. 

Revised bids for shredded stood at JPY55,000/mt ($496/mt), P&S (HS) at JPY56,000/mt ($505.69/mt), and busheling (shindachi) at JPY57,000/mt ($514.72/mt) fob Japan.  



Domestic scrap prices are gaining momentum gradually. Offers from suppliers saw limited interest from buyers. 

The weekly Davis Index for containerized #1 HMS and Shredded, jumped by $1/mt each to $454/mt and $467/mt cfr Taiwan, respectively, on Thursday. 

The weekly indexes for P&S 5ft and #1 busheling rose by $1/mt each to $474/mt and $482/mt cfr Taiwan, respectively, on Thursday. 

The weekly index for HMS 1&2 (80:20) is at $448/mt cfr Taiwan port, up by $2/mt.  



The weekly Davis index for containerized #1 HMS, Thursday, reached $464/mt cfr Vietnam, up by $1/mt. From a week ago, shredded, P&S 5ft, and #1 bushelling indexes rose to $477/mt, $484/mt, and $492/mt cfr Vietnam port, up by $1/mt each. 

Offers for US-origin HMS 1&2 (80:20) went up from $450-455/mt to $457/mt cfr Vietnam though demand is still weak. The market has been silent for a while now.   



The weekly Davis index for P&S 5ft went up by $10 to $520/mt cfr Indonesia port. Bids for P&S 5ft were at $510/mt.

The weekly Davis Index for shredded and #1 busheling settled up by $10/mt each at $515/mt, and $530/mt cfr Indonesia port, respectively. Trades for HMS 1&2 (80:20) in containers were heard at $496/mt cfr Indonesia. 



Tokyo Steel has kept its ferrous scrap purchase bids unchanged since May 18. The bids for #2 HMS stand at JYP51,500/mt del Tahara works, JYP50,000/mt del Okayama, JPY50,000 del Kyushu, JPY48,000/mt del Utsunomiya, and JPY48,500/mt del Takamatsu. 


($1= JPY110.74, TWD27.80, VND23,302.80, IDR14,480.39)

Leave a Reply

Your email address will not be published.