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

The weekly Davis Index for basic pig iron (BPI) climbed by $7/mt to $528/mt cfr New Orleans port on Thursday as fresh cargoes for March shipments were booked to the US from Brazil with deals priced at similar levels to the prior week.


The most recent deals are priced with wide ranges for the second week due to a disparity in material specifications. The lowest priced deals originated in Southern Brazil for high phosphorus material, containing 0.15pc for the chemical, while a higher-priced deal at $535/mt cfr Nola details prompt shipment for normal grade material. 


Sales for BPI ranging between $500-535/mt cfr Nola concluded over the past couple of days, with the low end representing discounted low-grade material. Further offers heard remain at $530-540/mt cfr Nola this week, matching last week’s offers. Bids are just under those numbers near $525-530/mt cfr Nola.


The Davis Index for nodular pig iron (NPI) imports moved down by $3/mt to $580/mt cfr Nola. There is low activity for the grade that also holds limited availability, but the latest offers and bids heard for NPI have ranged from $560-600/mt cfr Nola with delivery in May and beyond. 


The weekly Davis Index for US hot briquetted iron (HBI) imports increased by $20/mt to $400/mt cfr Nola. Offers or bids have not been reported recently, however the price estimation for the material is adjusted based on consumer interest levels and prices for other grades.

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