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

US East Coast and Houston dock collection prices for ferrous scrap were rangebound on Tuesday with only small movements this week in tandem with export activity. This follows three weeks of rising price trends of varying levels like export gains along with rising domestic market strength.


The Davis Index for US HMS 1&2 (80:20) exports to Turkey has increased by $8.19/mt since last week on slowing activity for the second successive week. The index for the grade stands at $513.19/mt cfr on Tuesday compared to $505/mt cfr on May 18. The longer-term, monthly gain increased by $80.06/mt compared to $433.13/mt cfr for the export-grade on April 27.


Dockside sales for #1 HMS on the East Coast trended between $365-400/gt on Tuesday based on dock location and base price from prior sales. Boston docks are closer to the bottom end of the range for the grade, though they are up $5-10/gt since last week and closing in on the gap with New York and Philadelphia docks that are rangebound at $380-400/gt.


Market participants noted that some anticipated increases have been delayed as various bulk export sellers continue filling older, lower-priced orders. Large-volume #1 HMS deals start at $400/gt and are soon projected to reach $425/gt or more.


In Boston, the weekly Davis Index for export yard #1 HMS increased by $8/gt to $366/gt and rose by $9/gt for P&S 5ft to $377/gt delivered Boston dock. Shredder feed was flat at $248/gt delivered Boston export yard. 


The weekly Davis Index for export yard buying prices in New York ticked up by $3/gt for #1 HMS to $389/gt delivered and P&S 5ft rose by $2/gt to $399/gt. Shredder feed held flat at $289/gt delivered New York dock. 


In Philadelphia, the Davis Index for export yard collection prices were unchanged with #1 HMS flat at $388/gt delivered, P&S 5ft holding at $399/gt delivered Philadelphia dock and shredder feed remaining at $293/gt delivered. 


The small movements at East Coast dock locations follow last week’s gains of $10-20/gt.


In Houston, the weekly Davis Index inched up by $2/gt for #1 HMS to $384/gt delivered and moved up by $3/gt for both P&S 5ft and shredder feed to $406/gt and $265/gt delivered Houston dock, respectively. Houston docks have been mostly flat for the past two weeks with many sellers more focused on the upcoming June domestic scrap trade.

Leave a Reply

Your email address will not be published.