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

Ferrous scrap prices in Southeast Asian markets are slowly picking up, except for in Japan, while scheduled mill maintenance, summer seasonality, and restrictions imposed to control the COVID-19 pandemic continue to make it difficult for the market to flourish.    


Japan domestic

Tokyo Steel cuts ferrous scrap purchase prices by JPY500/mt ($4.56/mt) and JPY1,000/mt ($9.12/mt) for all grades at Tahara and Takamatsu, respectively, effective Aug 20, following the Kanto tender results. Prices at Okayama, Kyushu, and Utsunomiya remained unchanged.


Bids for HMS #2 are at JPY48,500/mt ($442.12/mt) del Tahara, down by JPY500/mt; JPY50,500/mt ($458.54/mt) del Okayama, JPY49,000/mt ($444.92/mt) del Kyushu, JPY48,500/mtand JPY48,000 ($/mt) del Takamatsu, down by JPY1000/mt.

Revised bids for #1 busheling are at JPY54,500/mt del Tahara and JPY50,000/mt del Takamatsu while HMS #1 at JPY50,200/mt del Tahara and JPY48,200/mt del Takamatsu. Shredded at JPY50,000/mt del Tahara and JPY48,000/mt del Takamatsu, while P&S 5ft (HS) at JPY51,000/mt del Tahara and JPY49500/mt del Takamatsu.


HMS scrap supply is easing in the country. While demand is firm for high grades due to limited supply.


Japan extends its COVID-19 emergency lockdown till Sep 12 in Tokyo and other areas as cases surge and threatens the medical system.



Prices are gradually picking up pace. 

The weekly Davis Index for containerized #1 HMS and #1 busheling rose by $10/mt each to settle at $445/mt and $475/mt cfr Taiwan. 


The index for shredded rose by $11/mt to $462/mt while the index for P&S 5ft rose by $13/mt to $470/mt cfr Taiwan. 


The weekly index for HMS 1&2 (80:20) settled at $437/mt cfr Taiwan port, up by $10/mt. 



Vietnam is still under COVID-19 restrictions. 


The weekly Davis index for containerized #1 HMS, Thursday, rose by $3/mt, to settle at $451/mt cfr Vietnam. The weekly index for shredded and P&S 5ft rose by $6/mteach to $468/mt and $476/mt cfr Vietnam, respectively.


The weekly index for #1 bushelling rose by $5/mt to $483/mt cfr Vietnam port. 


The weekly Davis index of HMS 1&2 (80:20) settled at $443/mt cfr Vietnam, up by $5/mt from the prior week.



The weekly Davis index for P&S 5ft rose by $17/mt to $497/mt cfr Indonesia port. Bids for P&S 5ft at $485-490/mt cfr Indonesia port. 


The weekly Davis Index for shredded rose by $15/mt to settle at $490/mt while the index for #1 busheling rose by $13/mt to $508/mt cfr Indonesia. 


Prices rose in Indonesia following a demand recovery and resumption of trades amid limited inventories at mills.


The partial lockdown in Indonesia will be active until Aug 23. Domestic scrap prices are still cheaper and therefore preferred.


($1= JPY109.70, TWD 27.99, VND22,842.00, IDR14,449.99)


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