US East Coast and Houston dock collection prices for ferrous scrap remain on an upward trajectory amid strong export activity, rising domestic scrap prices and limited supply.
Dockside prices have been gradually rising since early November with the most expansive gains in the past two weeks. Export yard buying prices for #1 HMS on the East Coast ranged between $285-300/gt on Tuesday, rising by an average of $15-20/gt since last week and up by about $35/gt since Dec 1.
Exports to Turkey from the US for HMS 1&2 (80:20) were priced around $427/mt cfr on Tuesday compared to $376/mt cfr on Dec 8 representing a rise in export prices of about $50/mt for the grade in a week and over $130/mt cfr since late October.
In Boston, the weekly Davis Index for export yard #1 HMS climbed $17/gt to $295/gt while P&S 5ft jumped $19/gt to $305/gt, delivered Boston dock. Shredder feed rose by $6/gt to $200/gt delivered Boston export yard.
The weekly Davis Index for export yard buying prices in New York rose $15/gt to $294/gt delivered for #1 HMS and $16/gt to $305/gt delivered dock for P&S 5ft. The index for shredder feed increased $2/gt to $223/gt delivered.
In Philadelphia, the Davis Index for export yard collection prices of #1 HMS increased $17/gt to $293/gt delivered and P&S 5ft went up by $19/gt to $304/gt delivered Philadelphia dock. The index for shredder feed remained unchanged for now at $220/gt delivered.
In Houston, the weekly Davis Index climbed $25/gt for #1 HMS and $33/gt for P&S 5ft to $338/gt delivered and $358/gt delivered Houston dock, respectively. The shredder feed index increased $13/gt to $258/gt delivered.