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

US East Coast dock collection prices for ferrous scrap increased by $1-4/gt for some grades and dock locations while others remained unchanged. However, prices for HMS 1&2 (80:20) have remained comparatively flat lingering close to $200/gt, barring soft movements since June 30. 


In Houston, dock collection prices dropped by $3/gt as Houston docks are paying about $10-15/gt above the East coast.


US export demand is elevating as fresh sales to Turkey were heard in the market on Tuesday and buyers have actively booked US scrap within the past week. US offers for HMS 1&2 (80:20) are at around $260/mt cfr Turkey. Offers matched this level on June 9 when East Coast docks were paying $215-220/gt for the grade, which leaves room for upward price movements.


In Boston, the weekly Davis Index for export yard HMS 1&2 (80:20) increased by $2/gt to $201/gt delivered dock. P&S 5ft remained unchanged at $210/gt delivered Boston dock and the index for shredder feed was flat at $150/gt delivered. 


The weekly Davis Index for export yard buying prices in New York for HMS 1&2 (80:20) rose by $4/gt to $198/gt delivered on Tuesday and ticked up by $1/gt to $207/gt delivered New York dock for P&S 5ft. The index for shredder feed was unchanged at $152/gt delivered. 


In Philadelphia, the index for export yard collection prices of HMS 1&2 (80:20) increased by $2/gt to $196/gt delivered. The Davis Index for P&S 5ft inched up by $1/gt to $205/gt delivered Philadelphia dock, and prices were flat at $153/gt delivered for shredder feed.  


The weekly Davis Indexes in Houston decreased by $3/gt for HMS 1&2 (80:20), P&S 5ft, and shredder feed to $215/gt delivered, $225/gt delivered, and $160/gt delivered, respectively. Houston dock prices have remained above the East Coast since June 16 as the focus has been on domestic trading however, this dock location predicted on July 7 that prices would lower slightly this week.

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