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

Ferrous scrap prices in Southeast Asian markets barring Indonesia improved. Markets in Indonesia continued to trend down amid the ongoing COVID-19 restrictions. 


Japan domestic

Tokyo steel has kept its ferrous scrap purchase prices unchanged since Aug 19. Bids for HMS #2 were at JPY48,500/mt ($442.12/mt) del Tahara, JPY50,000/mt del Okayama, JPY48,500/mt del Kyushu, JPY48,500/mt del Utsunomiya and JPY48,000 del Takamatsu.


For September deliveries, the steelmaker raised listed retail prices by JPY3,000/mt for a few flat products, keeping prices for rebar and other construction steel products unchanged from the prior month.


Posco bought limited quantities of Japanese origin HS or P&S 5ft equivalent at JPY62,500/mt cfr South Korea on Thursday.


Scrap demand was on a gradual recovery in Japan which could lead Tokyo Steel to revise prices. 


Japan is currently under a lockdown till Sep 12, enforced in Tokyo and other areas to curb the COVID-19 pandemic. 



Scrap prices recovered due to an increase in overseas offers though local steel sales did not witness a major improvement. 


The weekly Davis Index for containerized #1 HMS and #1 busheling rose by $5/mt each to settle at $450/mt and $480/mt cfr Taiwan. 


The index for shredded rose by $5/mt to $467/mt while the index for P&S 5ft rose by $2/mt to $472/mt cfr Taiwan. 


The weekly index for HMS 1&2 (80:20) settled at $440/mt cfr Taiwan port, up by $3/mt. 



The weekly Davis index for containerized #1 HMS, Thursday, rose by $5/mt, to settle at $456/mt cfr Vietnam. The weekly index for shredded rose by $5/mt to $473/mt while the index for P&S 5ft rose by $2/mt to $478/mt cfr Vietnam, respectively.


The weekly index for #1 bushelling rose by $5/mt to $488/mt cfr Vietnam port. 


The weekly Davis index of HMS 1&2 (80:20) settled at $448/mt cfr Vietnam, up by $5/mt from the prior week.



Indonesia remained under a lockdown to curb the spread of COVID-19 and prices dropped in a silent market. Domestic scrap prices are still competitive to imported scrap. 


The weekly Davis index for P&S 5ft dropped by $7/mt to $490/mt cfr Indonesia port. Bids for P&S 5ft were at $480-485/mt cfr Indonesia port. 


The weekly Davis Index for shredded dropped by $5/mt to settle at $485/mt while the index for #1 busheling dropped by $8/mt to $500/mt cfr Indonesia. 


($1= JPY110.08, TWD 27.95, VND22,787.00, IDR14,436.45)


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