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

US East Coast and Houston collection prices for ferrous scrap ticked down after climbing for two weeks amid healthy scrap flows and a sluggish export market. Export activity is anticipated to pick up as buyers will soon require material for August shipment.


Dockside sales for #1 HMS on the East Coast dropped roughly by $10/gt to $370-400/gt on Tuesday based on dock location and base price from prior sales. Market participants on the East Coast had expected the downturn last week.


The Davis Index for US HMS 1&2 (80:20) exports to Turkey has been rangebound, hanging close to $500/mt cfr for over a month. The index for the grade stood at $499.52/mt cfr on Tuesday compared to $497.50/mt cfr on Jun 22. A longer-term monthly view shows little movement compared to 502.50/mt cfr on Jun 1. 


In Boston, prices were flat as they were still below the levels at surrounding docks. The weekly Davis Index for export yard #1 HMS held at $380/gt and P&S 5ft was unchanged at $390/gt delivered Boston dock. Shredder feed was flat at $270/gt delivered Boston export yard. 


The weekly Davis Index for export yard buying prices in New York fell by $10/gt for #1 HMS to $395/gt delivered, P&S 5ft dropped by the same amount to $405/gt, and shredder feed moved down by $8/gt to $315/gt delivered New York dock. 


In Philadelphia, the Davis Index for export yard collection prices moved down by $10/gt for #1 HMS to $396/gt delivered and P&S 5ft fell by $11/gt to $405/gt delivered Philadelphia dock. The index for shredder feed fell by $7/gt to $316/gt delivered. 


Houston’s, the weekly Davis Index fell by $13/gt for #1 HMS to $418/gt delivered on a healthy supply of the material. The index remained unchanged for both P&S 5ft at $451/gt and shredder feed at $335/gt delivered Houston dock. 


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