US East Coast and Houston dock collection prices for ferrous scrap remained unchanged for most ferrous scrap grades amid slowing material flows, modest export demand, impending domestic sales, and hurricane impacts along the Gulf Coast.

 

East Coast dockside prices remained in the range of $220-225/gt on Tuesday for most HMS 1&2 (80:20) tonnage although soft increases of $1-4/gt have ensued since last week. Sellers have reported holding back on sales until prices increase due to lack of material and uncertainty on forthcoming scrap flow.

 

The domestic market is also strengthening, and price increases are expected in September trading, following initial August price rises. The upward momentum is causing some export market participants to retain tons for now.

 

In Boston, the weekly Davis Index for export yard HMS 1&2 (80:20) increased by $3/gt to $225/gt delivered dock. P&S 5ft rose by $4/gt to $235/gt delivered Boston dock while shredder feed was flat at $170/gt delivered.

 

The weekly Davis Index for export yard buying prices in New York inched up by $3/gt to $224/gt delivered for HMS 1&2 (80:20). P&S 5ft rose by $4/gt to $235/gt delivered dock while shredder feed declined by $2/gt to $174/gt delivered. 

 

In Philadelphia, the Davis Index for export yard collection prices of HMS 1&2 (80:20) and P&S 5ft moved up by $1/gt to $224/gt delivered and $234/gt delivered Philadelphia dock, respectively. The index for shredder feed rose by $2/gt to $176/gt delivered. Some dealers priced shredder feed as high as $180/gt delivered Philadelphia dock on Tuesday.

 

The weekly Davis Indexes in Houston remained unchanged for HMS 1&2 (80:20) and P&S 5ft, at $228/gt delivered and $238/gt delivered, respectively, while the shredder feed index decreased by $7/gt to $163/gt delivered. 

 

Trading at Houston port has been halted temporarily due to the impending Hurricane Laura and its potential impact on the Gulf Coast. However, price increases are likely at the Houston dock next week.

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