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


The weekly Davis Index for #2 HMS, Wednesday, dropped by JPY3,000/mt ($27.19/mt), to JPY44,000/mt ($398.85/mt) fob Japan and JPY43,000/mt ($389.78/mt) fas Japan.


The weekly Davis Index for Japanese P&S 5ft (small bulk) settled flat at $535/mt cfr China port on Wednesday. No inquiries were heard during the week.


The weekly index for the #1 busheling (shindachi) settled down by JPY1,500/mt to JPY62,500/mt (566.54/mt) fob Japan and down by JPY500/mttoJPY61,500 ($557.48/mt) fas Japan.


The weekly Davis Index for shredded down by JPY1,000/mt to JPY53,000/mt ($480.43/mt), and the index for HS down by JPY1,250/mt at JPY58,500/mt ($530.28/mt) fas Japan. 


Offers for Japanese HMS 1&2 (50:50) heard at $480/mt cfr Vietnam, with the index for the grade settling down $5/mt to $470/mt cfr Haiphong. Mills kept their bids at $460/mt cfr Vietnam. 


Vietnam will be under COVID-19 lockdown until Sep 15 and demand is expected to remain weak. Freight charges from Japan to Vietnam is $60/mt for 5kmt. Australian deep-sea cargo in bulk was heard to be offered to Vietnam at $485/mt on HMS 1 & 2 (80:20).


Offer for #2 HMS heard at $480-$485/mt whereas bid heard at $475-$480/mt cfr Vietnam. 


The index for Japanese HMS 1&2 (50:50) settled flat at $460/mt cfr Taiwan. Offer for the grade at $465/mt, while bids were at $455/mt cfr Taiwan.


South Korea’s Seah announced their bid at JPY60,000/mt cfr South Korea for busheling (Shindachi) and at JPY59,000/mt cfr South Korea for shredded. Ocean freight from Japan to Korea is about JPY4,000/mt.


Meanwhile, Japan’s COVID-19 emergency lockdown will last till Sep 12 in Tokyo and other areas as cases surge and threaten the country’s health infrastructure.  


South Korea

The weekly Davis Index for containerized HMS 1&2 (80:20), Wednesday, settled at $440/mt cfr South Korea, up by $2/mt.


The weekly Davis Index for P&S 5ft and shredded are up by $2/mteach at $465/mt cfr South Korea, up by $8/mt.


The weekly Davis Index for #1 HMS rose by $2/mt to $448/mt cfr South Korea.


A bulk deep-sea cargo of HMS 1 & 2 (80:20) from New Zealand heard sold at $475/mt cfr South Korea.



The weekly Davis Index for containerized US-origin HMS 1&2 (80:20) settled at $444/mt cfr Taiwan, up $2/mt. Most offers were at $450-455/mt cfr Taiwan.


The weekly Davis index for HMS 1&2 (50:50) is flat at $460/mt cfr Taiwan. 


($1=JPY110.32, TWD27.75, KRW1159.09)

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