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

US East Coast dock prices for ferrous scrap remained strong amid healthy demand for imported scrap that continues from Turkey. 


US sellers are offering export HMS 1&2 (80:20) at $285/mt cfr to Turkey, a $10/mt increase from July 28. Sellers report that Turkish mills are actively buying material to fulfill September’s needs.


Dock collection prices ranged between $210-220/gt on Tuesday, an increase of $15/gt on average, compared to about $195-205/gt a month ago. Prices on the East Coast docks have risen consistently throughout July, although in slight increments. 


Market participants expect a further increase of $5-10/gt later this week in line with higher export activity.


In Boston, the weekly Davis Index for export yard HMS 1&2 (80:20) ticked up by $6/gt to $214/gt delivered dock. P&S 5ft increased by $7/gt to $225/gt delivered Boston dock while shredder feed rose by $6/gt to $158/gt delivered.


The weekly Davis Index for export yard buying prices in New York increased by $13/gt to $216/gt delivered for HMS 1&2 (80:20). P&S 5ft rose by $11/gt to $224/gt delivered dock while shredder feed moved up $8/gt to $166/gt delivered. 


In Philadelphia, the Davis index for export yard collection prices of HMS 1&2 (80:20) increased by $9/gt to $213/gt delivered, while P&S 5ft moved up by $9/gt to $223/gt delivered Philadelphia dock. The index for shredder feed rose by $8/gt to $166/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. 


Dock activity remained slow in Houston as market participants await domestic trading that began in the Midwest on Tuesday.

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