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

US East Coast dock collection prices for ferrous scrap slipped further amid healthy scrap flows that have been outpacing continuing weakened exports. Houston docks are still rangebound as scrap feedstock is limited in the region.


Dock activity has slackened over the month. Market participants foresee this weakness extending through Q3 as inbound material is surpassing outbound scrap movement. Dockside sales for #1 HMS on the East Coast fell by $5-10/gt as forecast last week and are now between $365-390/gt per dock location and prior sales level.


The Davis Index for US HMS 1&2 (80:20) exports to Turkey has remained unchanged at $484.89/mt cfr since Jul 13. The grade has also been rangebound in the longer term and was down $12.61/mt on Tuesday compared to $497.50/mt cfr on Jun 22. 


In Boston, prices held steady for several weeks but trended down this week. The weekly Davis Index for export yard #1 HMS fell by $8/gt to $370/gt and P&S 5ft declined by $9/gt to $380/gt delivered Boston dock. The shredder feed index dropped by $16/gt to $254/gt delivered Boston export yard. 


The weekly Davis Index for export yard buying prices in New York decreased by $11/gt for #1 HMS to $379/gt delivered, P&S 5ft fell by $10/gt to $390/gt, and shredder feed moved down by $12/gt to $275/gt delivered New York dock. 


In Philadelphia, the Davis Index for export yard collection prices moved down by $9/gt for #1 HMS to $380/gt delivered and P&S 5ft fell by $7/gt to $391/gt delivered Philadelphia dock. The index for shredder feed fell by $13/gt to $275/gt delivered. 


In Houston, the weekly Davis Index was flat for #1 HMS at $424/gt delivered, P&S 5ft and shredder feed both ticked down $2/gt to $449/gt and $333/gt delivered Houston dock, respectively. Local prices are falling however #1 HMS is still moving at $415-430/gt delivered Houston as limited supply is holding prices.

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