US East Coast dock collection prices for ferrous scrap rose by $3-17/gt for all grades and dock locations amid active buying from Turkey and scrap supply tightness.
A Turkish import was confirmed on Tuesday for US-origin HMS 1&2 (80:20) at $257/mt cfr. Export activity, which was slow in March, resumed on April 7 after a Turkish import of US-origin HMS 1&2 (80:20) was reported at $242.92/mt cfr.
Sellers received quotes on Tuesday for HMS 1&2 (80:20) at $10-15/gt increases compared to last week, at levels between $145-165/gt, with a few offers as high as $185/gt, about a $35/gt increase, as export material is currently loading at the East Coast. However, some suppliers are receiving collection price offers at the low end of the range and waiting for offers to increase above $170-180/gt.
In Boston, the weekly Davis Index for export yard HMS 1&2 (80:20) increased by $17/gt to $162/gt delivered dock and rose for P&S 5ft by $17/gt to $172/gt delivered Boston dock. The index for shredder feed increased by $10/gt to $115/gt delivered.
The weekly Davis Index for export yard buying prices in New York for HMS 1&2 (80:20) rose by $8/gt to $146/gt delivered on Tuesday and to $156/gt delivered New York dock for P&S 5ft. The index for shredder feed rose by $3/gt to $105/gt delivered.
In Philadelphia, the index for export yard collection prices of HMS 1&2 (80:20) increased by $8/gt to $149/gt delivered. The Davis Index for P&S 5ft rose by $8/gt to $159/gt delivered Philadelphia dock, and surged by $4/gt to $110/gt delivered for shredder feed.
The domestic ferrous scrap trade kicked off on April 7 and wrapped up on Tuesday at price decreases of $30/gt for prime grades and $50/gt for shredded and cut grades, in most markets. Some regions saw price decreases of $20/gt for primes and $30-45/gt for secondary materials, namely markets with more demand or those affected by exports.