US East Coast dock prices for ferrous scrap inched up amid consistent demand for imported scrap in Turkey, where the latest sale from the Baltic region was at $270/mt cfr.
Suppliers were targeting $275/mt cfr Turkey or higher for HMS 1&2 (80:20) on Tuesday, representing a range that was about $5-10/mt above $265/mt cfr Turkey at which recent deals for the material were concluded last week.
Dock collection prices have shown little upward movement since last week although market participants are projecting higher prices by next week due to continuing export activity and rising demand.
For example, containerized scrap export prices increased by $5-10/mt this week after a deal to India concluded at $255/mt fas New York, up from around $245-250/mt a week earlier.
In Boston, the weekly Davis Index for export yard HMS 1&2 (80:20) increased by $3/gt to $208/gt delivered dock. P&S 5ft rose by $3/gt to $218/gt delivered Boston dock, while shredder feed moved up by $1/gt to $152/gt delivered.
The weekly Davis Index for export yard buying prices in New York increased for both HMS 1&2 (80:20) and P&S 5ft by $1/gt to $203/gt delivered and $213/gt delivered dock, respectively. On the other hand, the index for shredder feed dropped by the same amount to $158/gt delivered.
In Philadelphia, the index for export yard collection prices of HMS 1&2 (80:20) and P&S 5ft increased by $2/gt to $204/gt delivered and to $214/gt delivered Philadelphia dock, respectively. The index for shredder feed declined by $1/gt to $158/gt delivered.
The weekly Davis Indexes in Houston remained unchanged with HMS 1&2 (80:20), P&S 5ft, and shredder feed flat at $218/gt delivered, $228/gt delivered, and $163/gt delivered, respectively.