US East Coast and Houston dock collection prices for ferrous scrap hardly changed save for nominal price moves, across all grades and dock locations on low sales to Turkey and Asia.
Scrap exporters in the EU dropped weekly dock prices by about $11/mt, as domestic mills have achieved price cuts. The flow of material is increasing and export demand is falling, which has pushed prices down in Europe. In the US, lockdowns have started to ease, although it will take time for flows to return to healthy levels. However, for the time being, it is offsetting some price softness.
Market participants told Davis Index that East Coast docks are aiming to lower collection prices, but sellers reported moving material to the docks this week at May 12 prices. Some deals reported at the end of last week involved price decreases.
The weekly Davis Indexes in Houston were flat on Tuesday for HMS 1&2 (80:20) at $204/gt delivered, and at $224/gt delivered P&S 5ft, while shredder feed stayed at $143/gt delivered. Houston area sellers have indicated that prices may rise later this week in tandem with domestic demand.
In Boston, the weekly Davis Indexes for export yard HMS 1&2 (80:20) and P&S 5ft increased by $1/gt to $203/gt delivered dock and $213/gt delivered Boston dock, respectively. The index for shredder feed was flat at $144/gt delivered.
The weekly Davis Index for export yard buying prices in New York for HMS 1&2 (80:20) increased by $1/gt to $200/gt delivered on Tuesday, and by $1/gt from $209/gt to $210/gt delivered New York dock for P&S 5ft. The index for shredder feed remained flat at $147/gt delivered.
In Philadelphia, the index for export yard collection prices of HMS 1&2 (80:20) declined by $3/gt from $201/gt to $198/gt delivered. The Davis Index for P&S 5ft dropped by $3/gt from $211/gt to $208/gt delivered Philadelphia dock, while prices were flat at $149/gt delivered for shredder feed.