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

US East Coast dock collection prices for ferrous scrap increased by $3-12/gt for all grades and dock locations, as export material continues to ship from the region.


The Turkish scrap trade has been quiet due to the Ramadan holiday, making market participants uncertain on the price direction upon its return to the market, late next week. Scrap supply is tight, and some exporters are still fulfilling past months’ orders at higher prices.


Some sellers received quotes for HMS 1&2 (80:20) at the same level as last week on Tuesday while others were quoted up to $15/gt above last week’s levels, between $185-205/gt with a few reporting as high as $210/gt for remote tons via railcar. 


In Boston, the weekly Davis Index for export yard HMS 1&2 (80:20) increased by $12/gt to $201/gt delivered dock and P&S 5ft rose by $12/gt to $211/gt delivered Boston dock. The index for shredder feed increased by $5/gt to $140/gt delivered. 


The weekly Davis Index for export yard buying prices in New York for HMS 1&2 (80:20) rose by $11/gt to $194/gt delivered on Tuesday and increased $11/gt, to $204/gt delivered New York dock for P&S 5ft. The index for shredder feed went up by $5/gt to $133/gt delivered. 


In Philadelphia, the index for export yard collection prices of HMS 1&2 (80:20) increased by $9/gt to $197/gt delivered. The Davis Index for P&S 5ft rose by $9/gt to $207/gt delivered Philadelphia dock, and increased by $3/gt to $139/gt delivered for shredder feed.  


Most of the recent quotes for HMS 1&2 (80:20), around $200/gt, places dock collection prices above domestic levels by about $10/gt, which could foreseeably push prices upwards for secondary grades during the May domestic ferrous scrap trade. Prime grades are projected to rise due to scarce supply at that time.


Davis Index learned Tuesday, that a seller in New York sold about 15,000gt of shredded for $265/gt and approximately 2,500gt of busheling at $315/gt into the Detroit market.

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