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

US East Coast and Houston dock prices for ferrous scrap were flat, save for soft upward movements on the heels of strong export activity and pricing upside in domestic trading last week.


East Coast dock collection prices were around $215-220/gt for HMS 1&2 (80:20) on Tuesday, in line with $5-10/gt increases that sellers anticipated last week. However, whether or not sustainable export strength can be sustained is not clear because of persistent market uncertainty.


Export destination buyers have had meek interest in securing material this week after purchasing substantial tonnage last week. US sellers offered to export HMS 1&2 (80:20) for $285/mt cfr to Turkey on August 4, with very few offers reported above that level on August 11. 


In Boston, the weekly Davis Index for export yard HMS 1&2 (80:20) increased by $5/gt to $219/gt delivered dock, while P&S 5ft increased by $4/gt to $229/gt delivered Boston dock, and the shredder feed index rose by $6/gt to $164/gt delivered.


The weekly Davis Index for export yard buying prices in New York increased by $3/gt to $219/gt delivered for HMS 1&2 (80:20). P&S 5ft rose by $4/gt to $228/gt delivered dock, while shredder feed moved up $6/gt to $172/gt delivered. 


In Philadelphia, the Davis index for export yard collection prices of HMS 1&2 (80:20) increased by $5/gt to $218/gt delivered, while P&S 5ft increased by $5/gt to $228/gt delivered Philadelphia dock. The index for shredder feed rose by $5/gt to $171/gt delivered.  


The weekly Davis Indexes in Houston grew by $7/gt for HMS 1&2 (80:20) and P&S 5ft, to $225/gt delivered and $235/gt delivered, respectively, while the shredder feed index increased by $5/gt to $168/gt delivered.

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