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

The weekly Davis Index for basic pig iron (BPI) increased by $24/mt to $551/mt cfr New Orleans port on Friday as fresh deals concluded at higher prices originating from both the CIS and Brazil.


The most recent transactions include a BPI cargo from the CIS priced at $550/mt cfr Nola for April shipment and a few discounted deals from South Brazil at $530-535/mt cfr Nola for high phosphorus, reduced quality material. 


A similarly priced sale from Italy to Ukraine was also reported this week at $550/mt cfr. Meanwhile, Chinese bids to CIS producers are below the current price trends, at $480-485/mt fob, which equates to $525-530/mt cfr.


Additional bids and offers for BPI to the US range from $550-570/mt cfr Nola with further upside potential in March as domestic ferrous pricing is forecast to increase as well. Sources feel that scrap alternatives may increase by $20/mt in the next week or so.


The Davis Index for nodular pig iron (NPI) imports increased by $15/mt to $593/mt cfr Nola. There has been no new activity for this grade, but the latest offers and bids heard for NPI have ranged from $585-595/mt cfr Nola, with the possibility to move higher.


The weekly Davis Index for US hot briquetted iron (HBI) imports increased by $13/mt to $398/mt cfr Nola. New offers or bids have not been heard lately, however the price estimation for the material has been modified based on price movements for similar grades along with latest consumer interest levels.

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