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


Tokyo steel cut domestic scrap prices for Utsunomiya mill by JPY500/mt ($4.5/mt). Tahara, Okayama, Kyushu and Takamatsu remain unchanged. 


#2 HMS bids are at JPY47,000/mt del Utsunomiya, JPY48,000/mt del Tahara, JPY49,500/mt del Okayama and JPY48,000/mt del Kyushu. 


The country’s steel scrap market has softened. Market participants are awaiting the monthly scrap export tender by Kanto Tetsugen on Sept 9 for price direction.


The weekly Davis Index for #2 HMS, Wednesday, rose by JPY1,500/mt ($13.61/mt), to JPY45,500/mt ($412.78/mt) fob Japan and JPY44,500/mt ($403.71/mt) fas Japan.


The weekly Davis Index for Japanese P&S 5ft (small bulk) settled at $560/mt cfr China port on Wednesday, up by $25/mt. 


The weekly index for the #1 busheling (shindachi) settled down by JPY500/mt each to JPY62,000/mt (562.47/mt) fob Japan and JPY61,000 ($553.40/mt) fas Japan, respectively.


The weekly Davis Index for shredded flat at JPY53,000/mt ($480.82/mt), and the index for HS down by JPY500/mt at JPY58,000/mt ($526/mt) fas Japan. 


Offers for Japanese HMS 1&2 (50:50) heard at $480/mt cfr Vietnam, with the index for the grade settling at $478/mt cfr Haiphong, up by $8/mt. Mills kept their bids at $475/mt cfr Vietnam. 


The index for Japanese HMS 1&2 (50:50) settled at $465/mt cfr Taiwan. Offer for the grade at $470/mt, while bids were at $460/mt cfr Taiwan.


Meanwhile, Japan’s COVID-19 emergency will end on Sept 12 in Tokyo and other areas. The country’s health infrastructure is struggling with the rising number of infections and death.


South Korea

The weekly Davis Index for containerized HMS 1&2 (80:20), Wednesday, settled at $450/mt cfr South Korea, up by $5/mt.


The weekly Davis Index for P&S 5ft and shredded are up by $3/mt each at $475/mt and $470/mt cfr South Korea.


The weekly Davis Index for #1 HMS rose by $5/mt to $453/mt cfr South Korea.



The weekly Davis Index for containerized US-origin HMS 1&2 (80:20) settled at $450/mt cfr Taiwan, up $6/mt. Most offers were at $460-465/mt cfr Taiwan.


The weekly Davis index for HMS 1&2 (50:50) is up by $5/mt at $465/mt cfr Taiwan. 


($1=JPY110.23, TWD27.72, KRW1165.55)


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