US East Coast and Houston dock collection prices for ferrous scrap improved this week amid continuing export activity, limited material availability, and firming domestic prices.
Domestic scrap tags largely remained flat during the recently concluded November trade. However, upward price movements, some considerably high, were achieved on various grades in certain regions as some mills had healthy buying programs.
Steel mills in Turkey have booked ample amounts of material in the past week and continue looking to fulfill remaining tonnage needs for December. Mill order books are healthy in Turkey however scrap supply is tightening which is causing offer prices to rise.
Offer levels from the US to Turkey on Tuesday are near $300/mt cfr for HMS 1&2 (80:20). This compares to $292-295/mt cfr, which was the price point for the grade on Nov 3.
Dockside prices range between $230-250/gt for HMS 1&2 (80:20), with most of the transactions around $240/gt minimum as bulk exporters have steadily raised prices to keep pace with fulfilling prior and new bookings.
In Boston, the weekly Davis Index for export yard HMS 1&2 (80:20) climbed by $8/gt to $238/gt delivered Boston dock. P&S 5ft moved up by $7/gt to $247/gt delivered and Shredder feed increased by $7/gt to $175/gt delivered.
The weekly Davis Index for export yard buying prices in New York climbed by $9/gt to $241/gt delivered for HMS 1&2 (80:20) and by $8/gt to $249/gt delivered dock for P&S 5ft. The index for Shredder feed rose by $7/gt to $180/gt delivered.
In Philadelphia, the Davis index for export yard collection prices of HMS 1&2 (80:20) increased by $8/gt to $239/gt and P&S 5ft rose by $9/gt to $249/gt delivered Philadelphia dock. The index for Shredder feed climbed by $7/gt to $182/gt delivered.
In Houston, the weekly Davis Index climbed by $12/gt for HMS 1&2 (80:20) settling at $265/gt delivered. P&S 5ft moved up by $14/gt to $280/gt delivered Houston dock. The Shredder feed index increased by $6/gt to $202/gt delivered.