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

The weekly Davis Index for basic pig iron (BPI) shot up by another $21/mt to $498/mt cfr New Orleans port on Thursday following recent higher priced bookings to the US. 


BPI prices have risen by $42/mt since Dec 3 and $120/mt since Nov 5. A similar, widespread six-week price momentum continues across all sectors including steel sales and global exports, along with US domestic scrap and import metal values.


Cargos of the material transacted at $495-500/mt cfr Nola this past week with buyers receiving offers for BPI at that same level on Thursday. The new bookings are for April shipment due to the current demand and tightness of the grade.


The Davis Index for nodular pig iron (NPI) imports was flat at $565/mt cfr Nola, following a $70/mt rise last week. The grade is in tight supply, however, and should a consumer choose to purchase the material currently, it would likely not ship until May. The few offers heard for the material range from $560-580/mt cfr Nola with delivery looking into Q2 2021.


The weekly Davis Index for US hot briquetted iron (HBI) imports rose by $5/mt to $350/mt cfr Nola. The price estimate is based on import prices from Venezuela tied in with domestic HBI transactions, which are around $10/gt higher than prime scrap grades at production origin sites in Texas or Ohio.

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