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

The weekly Davis Index for basic pig iron (BPI) increased by $3/mt to $363/mt cfr New Orleans on Thursday, following high-priced sales in the US last week and climbing offer prices.


The most recent US imports of two vessels of BPI originated from the CIS and were priced at $358-363/mt cfr Nola. Producers have offered more material for $370-380/mt cfr Nola—which is what China is currently paying for the material—for either December or January shipments. 


US consumers bid around $365/mt cfr Nola for BPI imports on Thursday, however, no further deals have been confirmed.


The Davis Index for nodular pig iron (NPI) imports increased by $9/mt to $395/mt cfr Nola—the material isn’t readily available and producers are targeting China for NPI and BPI sales. However, the US reported having adequate material, with no confirmed bookings. New NPI offers to the US were about $390-400/mt fob Brazil, equivalent to $425-435/mt cfr Nola, but US bids are likely below that range. 


The weekly Davis Index for US hot briquetted iron (HBI) imports were flat at $246/mt cfr Nola. Neither new offers nor deals for HBI were reported, as demand remains soft, but, based on sale prices for similar material, the grade would likely be priced within a narrow range.



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