US East Coast dock collection prices for ferrous scrap decreased for the fifth straight week by around $5-12/gt due to a weakness in export demand that has impacted prices for over a month. However, slight upticks of $2-5/gt are emerging—depending on location—as not much local material is moving at the lowered levels.
In Boston, the weekly Davis Index for export yard HMS 1&2 (80:20) decreased by $12/gt to $198/gt delivered dock, compared to last week. Local priced HMS 1&2 (80:20) is around $190-195/gt and some remote material is priced at $210-215/gt. The Index for P&S 5ft declined by $12/gt to $208/gt delivered Boston dock while Shredder feed decreased by $10/gt to $140/gt delivered.
The weekly Davis Index for export yard HMS 1&2 (80:20) in New York increased by $2/gt to $205/gt delivered on Tuesday. Local priced HMS 1&2 (80:20) is around $195-200/gt and some remote material is priced at $210-215/gt. The Index for P&S 5ft rose by $2/gt to $215/gt delivered New York dock and shredder feed declined by $5/gt to $140/gt delivered.
In Philadelphia, the Davis Index for export yard HMS 1&2 (80:20) rose by $5/gt to $205/gt delivered. Local priced HMS 1&2 (80:20) is around $195-205/gt and some remote material is priced as high as $215/gt. P&S 5ft increased by $5/gt to $215/gt delivered Philadelphia dock, and the Index for shredder feed declined $5/gt to $140/gt delivered.
HMS 1&2 (80:20) declined around $40-50/gt from around $240/gt one month ago, to around $200/gt +/- $5/gt this week, for several East Coast bulk export locations. Some bulk export sellers reduced collection prices to $190/gt for HMS 1&2 (80:20) in efforts to protect their margins. However, market participants said that material may not be moving at that level and confirmed sales are still above that price point.
US domestic ferrous prices decreased by $20-30/gt at the end of last week for shredded and cut grades and by $10-20/gt for prime grades, also indicating effects of weak export prices and demand.