US East Coast and Houston dock collection prices for ferrous scrap were rangebound with some upticks compared to last week. Price points at the docks have trended sideways with small movements throughout April.
Export activity has also been limited over the past month. The Davis Index for US HMS 1&2 (80:20) exports to Turkey are up by $12.48/mt since last week and stood at $433.13/mt cfr on Tuesday compared to $420.65/mt cfr on Apr 20. This compares to $423.75/mt cfr for the export-grade on Mar 30.
Scrap supply is healthy this week, with bulk exporters receiving solid material flows into yards while looking for further price cues. East Coast dock sales for #1 HMS remained between $335-350/gt on Tuesday with modification based on dock location and base price from last sales.
In Boston, the weekly Davis Index for export yard #1 HMS inched up by $1/gt to $336/gt and stayed flat for P&S 5ft at $346/gt, delivered Boston dock. Shredder feed ticked up by $2/gt to $243/gt delivered Boston export yard.
The weekly Davis Index for export yard buying prices in New York moved up by $2/gt for #1 HMS, P&S 5ft and shredder feed to $345/gt delivered, $355/gt delivered, and $252/gt delivered New York dock, respectively.
In Philadelphia, the Davis Index for export yard collection prices of #1 HMS ticked up by $2/gt to $348/gt delivered and P&S 5ft inched up $1/gt to $356/gt delivered Philadelphia dock. The index for shredder feed remains at $251/gt delivered.
In Houston, the weekly Davis Index moved up by $2/gt for #1 HMS to $339/gt and P&S 5ft climbed by $2/gt to $357/gt delivered Houston dock. Shredder feed fell by the same amount to $240/gt delivered. Market participants in this region await May trading for further price indications.