US East Coast dock prices for ferrous scrap increased on rising demand for imported scrap in Turkey where the latest ex-Baltic buy was reported at $265/mt cfr for HMS 1&2 (80:20) up from a similar deal reported at $260-261.50/mt cfr Turkey last week on the same grade.
Turkish mills increased domestic scrap prices and active import inquiries moved US-based sellers to increase deal price target to $270/mt cfr Turkey for HMS 1&2 (80:20).
In Boston, the weekly Davis Index for export yard HMS 1&2 (80:20) increased by $4/gt to $205/gt delivered dock. P&S 5ft increased by $5/gt to $215/gt delivered Boston dock while shredder feed rose by $1/gt to $151/gt delivered.
The weekly Davis Index for export yard buying prices in New York increased by $4/gt to $202/gt delivered for HMS 1&2 (80:20). P&S 5ft also rose by $5/gt to $212/gt delivered dock while shredder increased by $7/gt to $159/gt delivered.
In Philadelphia, the Davis index for export yard collection prices of HMS 1&2 (80:20) increased by $6/gt to $202/gt delivered, while P&S 5ft increased by $7/gt to $212/gt delivered Philadelphia dock. The index for shredder feed rose by $6/gt to $159/gt delivered.
The containerized markets off the East Coast have been flat for most of July as shredded scrap continues trending in the $245-250/mt fas range from New York. Prices are firming up in the upper side of the range and expected to improve if additional demand from Asian markets becomes stronger in August for September deliveries.
The weekly Davis Indexes in Houston regained the $3/gt price erosion last week with HMS 1&2 (80:20), P&S 5ft, and shredder feed rising to $218/gt delivered, $228/gt delivered, and $163/gt delivered, respectively.
Houston dock sources predicted the probability of softness in dock prices into this week but dock index prices improved on a flat outlook on cuts and fragmented grades domestically, stronger Turkish import prices in the latest deals, active container inquiries to Asian buyers, and continued demand from Mexico. Dock collection prices in Houston continue higher than those on the East Coast.