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

The weekly Davis Index for basic pig iron (BPI) remained unchanged at $570/mt cfr New Orleans port on Thursday as the industry takes a break during the holidays.


Multiple deals from Brazil to the US last week were in the range of $558-570/mt cfr Nola.  New activity is projected to resume next week alongside the January domestic scrap trade wherein large price surges are anticipated.


BPI prices have soared by more than $110/mt since the beginning of December and about $140/mt since late November with expectations to reach $600/mt cfr Nola soon.


The Davis Index for nodular pig iron (NPI) imports is flat at $600/mt cfr Nola. The grade is limited in availability, but the offers heard for NPI have ranged from $580-610/mt cfr Nola for May or other Q2 2021 delivery.


The weekly Davis Index for US hot briquetted iron (HBI) imports is unchanged at $440/mt cfr Nola. The price estimation for the material is supported by Venezuelan import price in correlation with domestic HBI levels, presently around $10/gt more than prime scrap grades.

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