Dock collection prices for ferrous scrap increased by $4-12/gt in Houston, after rising domestic scrap prices pulled up collection prices up. US East Coast dock collection prices remained relatively flat across all grades and dock locations, amid quiet markets and a slowdown in price hikes seen on May 12.
Market participants told Davis Index that East Coast docks are trying to maintain current collection price levels at around $190-205/gt for local HMS 1&2 (80:20), however, some sellers were offered $210/gt and more for remote material delivered to East Coast dock.
Export activity in the US is expected to improve a bit by early next week, with an uptick in prices. Scrap exporters in the EU gained about $5/mt in weekly dock prices after the most recent Turkish sales were concluded at higher prices.
The weekly Davis Indexes in Houston increased by $7/gt for HMS 1&2 (80:20) from $204/gt to $211/gt delivered, and P&S 5ft rose $4/gt from $224/gt to $228/gt delivered. The index for shredder feed increased by $12/gt from $143/gt to $155/gt delivered. Houston area sellers have indicated that domestic scrap is higher priced, in relation to export pricing on Tuesday, making it more difficult to export.
In Boston, the weekly Davis Index for export yard HMS 1&2 (80:20) decreased by $1/gt from $203/gt to $202/gt delivered dock, and P&S 5ft dropped by $1/gt from $213/gt to $212/gt delivered Boston dock. The index for shredder feed remained unchanged at $144/gt delivered.
The weekly Davis Index for export yard buying prices in New York for HMS 1&2 (80:20) increased $1/gt from $200/gt to $201/gt delivered on Tuesday and increased $1/gt from $210/gt to $211/gt delivered New York dock for P&S 5ft. The index for shredder feed was flat at $147/gt delivered.
In Philadelphia, the index for export yard collection prices of HMS 1&2 (80:20) increased by $1/gt from $198/gt to $199/gt delivered. The Davis Index for P&S 5ft rose $1/gt from $208/gt to $209/gt delivered Philadelphia dock, and prices were unchanged at $149/gt delivered for shredder feed.