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

The US East Coast and Houston dock collection prices for ferrous scrap continue to climb upward, amid strong export demand and healthy domestic markets throughout the US. 


January’s domestic activity is wrapping up after scrap prices were driven $90-100/gt above December’s levels, with some lower prices for certain secondary grades. Some market participants noted that activity, though still strong, is tapering off to more controlled levels, following enormous price growth over the past two months.


Export yard buying prices for #1 HMS on the East Coast were averaging close to $400-410/gt for local tons on Tuesday, rising by about $30-40/gt for most sellers compared with last week. The prices covered a full range of deals between $390-415/gt. East Coast dock collections for #1 HMS were valued at $245/gt on November 17, 2020, and have grown by approximately $160/gt within the past 60 days.


Dockside price points are projected to rise further in the near term. The daily Davis Index for Turkish imports of US-origin HMS 1&2 (80:20) was $482.11/mt cfr Monday while further US offers are at around $485-490/mt cfr. The ferrous export market’s price levels this week are up by about $55/mt from December 15, 2020.


In Boston, the weekly Davis Index for export yard #1 HMS climbed by $37/gt to $401/gt delivered and P&S 5ft jumped by $35/gt to $410/gt, delivered Boston dock. Shredder feed rose by $39/gt to $294/gt delivered. 


The weekly Davis Index for export yard buying prices in New York rose by $33/gt to $408/gt delivered for #1 HMS and $32/gt to $417/gt delivered dock for P&S 5ft. The index for shredder feed increased by $40/gt to $300/gt delivered. 


In Philadelphia, the Davis Index for export yard collection prices of #1 HMS increased by $31/gt to $404/gt delivered while P&S 5ft went up by $30/gt to $415/gt delivered Philadelphia dock. The index for shredder feed rose by $40/gt to $298/gt delivered.


In Houston, the weekly Davis Index rose by $10/gt for #1 HMS to $380/gt and P&S 5ft increased by $8/gt to $398/gt delivered Houston dock. The shredder feed index increased by $6/gt to $300/gt delivered.

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