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

US East Coast and Houston dock collection prices for ferrous scrap saw modest declines on Tuesday in line with softness in export activity through most of March. 


Markets are also quietly awaiting the looming April trade expecting to see some softness on well supplied secondary grades with primes holding firmer on tight supply.


Sellers to the East Coast docks are citing same price levels this week, though some foresee an upward potential by next week. The Davis Index for US HMS 1&2 (80:20) exports to Turkey inched up by $4.58/mt since last week to $423.75/mt cfr on Tuesday compared to 419.17/mt cfr on March 23.


East Coast dock sales for #1 HMS were transacting in the full range of $315-340/gt on Tuesday versus last week’s range of $325-350/gt, with remote material priced near the high end of the scale. The material is largely transacting close to $335/gt in New York and Philadelphia, with some deals at the lower end of the range in Boston.


In Boston, the weekly Davis Index for export yard #1 HMS moved down by $3/gt to $325/gt and fell by $4/gt for P&S 5ft to $335/gt, delivered Boston dock. Shredder feed declined by $10/gt to $238/gt delivered. 


The weekly Davis Index for export yard buying prices in New York decreased by $2/gt for #1 HMS to $334/gt delivered and was flat for P&S 5ft at $345/gt delivered New York dock. Shredder feed declined by $7/gt to $261/gt delivered. 


In Philadelphia, the Davis Index for export yard collection prices of #1 HMS remained unchanged at $335/gt delivered and P&S 5ft ticked down by $2/gt to $344/gt delivered Philadelphia dock. The index for shredder feed fell by $7/gt to $258/gt delivered. 


In Houston, the weekly Davis Index remained unchanged for #1 HMS at $330/gt and P&S 5ft stayed at $350/gt delivered Houston dock. The shredder feed index fell $4/gt to $244/gt delivered. The region is quietly awaiting April trade.

Leave a Reply

Your email address will not be published.