US East Coast dock prices for ferrous scrap remained strong amid healthy demand for imported scrap that continues from Turkey. 

 

US sellers are offering export HMS 1&2 (80:20) at $285/mt cfr to Turkey, a $10/mt increase from July 28. Sellers report that Turkish mills are actively buying material to fulfill September’s needs.

 

Dock collection prices ranged between $210-220/gt on Tuesday, an increase of $15/gt on average, compared to about $195-205/gt a month ago. Prices on the East Coast docks have risen consistently throughout July, although in slight increments. 

 

Market participants expect a further increase of $5-10/gt later this week in line with higher export activity.

 

In Boston, the weekly Davis Index for export yard HMS 1&2 (80:20) ticked up by $6/gt to $214/gt delivered dock. P&S 5ft increased by $7/gt to $225/gt delivered Boston dock while shredder feed rose by $6/gt to $158/gt delivered.

 

The weekly Davis Index for export yard buying prices in New York increased by $13/gt to $216/gt delivered for HMS 1&2 (80:20). P&S 5ft rose by $11/gt to $224/gt delivered dock while shredder feed moved up $8/gt to $166/gt delivered. 

 

In Philadelphia, the Davis index for export yard collection prices of HMS 1&2 (80:20) increased by $9/gt to $213/gt delivered, while P&S 5ft moved up by $9/gt to $223/gt delivered Philadelphia dock. The index for shredder feed rose by $8/gt to $166/gt delivered.  

 

The weekly Davis Indexes in Houston remained unchanged with HMS 1&2 (80:20), P&S 5ft, and shredder feed flat at $218/gt delivered, $228/gt delivered, and $163/gt delivered, respectively. 

 

Dock activity remained slow in Houston as market participants await domestic trading that began in the Midwest on Tuesday.

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