US East Coast dock collection prices for ferrous scrap increased by $20-39/gt for all grades and dock locations, correcting export yard buying prices to align with recent Turkish export prices.
Scrap supply remains tight boosting demand a bit to fill prior cargo sales to Turkey as confirmed on April 14, though Turkish activity is quiet this week. Apart from the reported cargo sales to Turkey, cargo sales have been made to Mexico and Egypt for which prices were not released.
Some sellers received quotes for HMS 1&2 (80:20) at $20-25/gt increases on Tuesday compared to last week’s levels, in the approximate range of $175-190/gt with few reporting prices as high as $205/gt, as export material continues to move from the East Coast docks.
In Boston, the weekly Davis Index for export yard HMS 1&2 (80:20) increased by $27/gt to $189/gt delivered dock, and P&S 5ft rose by $27/gt to $199/gt delivered Boston dock. The index for shredder feed increased by $20/gt to $135/gt delivered.
The weekly Davis Index for export yard buying prices in New York for both HMS 1&2 (80:20) and P&S 5ft rose by $37/gt to $183/gt delivered and $193/gt delivered New York dock, respectively. The index for shredder feed rose by $23/gt to $128/gt delivered.
In Philadelphia, the index for export yard collection prices of both HMS 1&2 (80:20) and P&S 5ft increased by $39/gt to $188/gt delivered and $198/gt delivered Philadelphia dock, respectively, and increased for shredded feed by $26/gt to $136/gt delivered.
East Coast dock prices for HMS 1&2 (80:20) have caught up by approximately $47/gt average, over the past three weeks, from March 31, when sales for the material were at their lowest 2020 levels, at around $138-141/gt.
Turkish imports for US-origin HMS 1&2 (80:20) were at around $270/mt cfr on March 15, decreasing by $13/mt to $257/mt cfr on April 15. The average East Coast export yard buying price for the material was about $195/gt on March 15 and decreased by $43/gt to $152/gt by April 15.