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

US East Coast dock collection prices for ferrous scrap began to inch up this week while Houston docks remained unchanged. Dock prices have been rangebound with only small movements over the past month, in tandem with export activity.


The Davis Index for US HMS 1&2 (80:20) exports to Turkey increased by $24.97/mt since last week on rising demand to $458.10/mt cfr on Tuesday compared to $433.13/mt cfr on Apr 27. This compares to $427/mt cfr for the export grade a month prior, on Apr 6.


East Coast dock sales for #1 HMS are generally transacting between $340-360/gt on Tuesday with some remote deals reported as high as $370/gt also based on dock location and prior price point. Sources report prices range from flat to up $10/gt this week.


In Boston, the weekly Davis Index for export yard #1 HMS inched up by $5/gt to $341/gt and rose by $7/gt for P&S 5ft to $353/gt delivered Boston dock. Shredder feed ticked up by $3/gt to $246/gt delivered Boston export yard. 


The weekly Davis Index for export yard buying prices in New York moved up by $7/gt for #1 HMS to $352/gt, P&S 5ft increased by $6/gt to $361/gt and shredder feed inched up by $2/gt to $254/gt delivered New York dock. 


In Philadelphia, the Davis Index for export yard collection prices of #1 HMS ticked up by $3/gt to $351/gt delivered and P&S 5ft increased by $4/gt to $360/gt delivered Philadelphia dock. The index for shredder feed rose by $2/gt to $253/gt delivered. 


In Houston, the weekly Davis Index remained unchanged for #1 HMS, P&S 5ft and shredder feed at $339/gt, $357/gt and $240/gt delivered Houston dock, respectively. Market participants note the region is quiet, but activity and prices are projected to increase later in the week or by next week.

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