US East Coast dock collection prices for ferrous scrap increased by about $5-10/gt while Houston dock prices rose about $22-23/gt during the week as export activity improved, albeit slowly, amid restricted material flow to the docks.
Incoming material has paused in many US regions as extreme weather conditions impede flows. Transactions are restricted to yards holding existing material and concluding at improved prices. Dockside sales of #1 HMS were reported between $315-335/gt at various East Coast export yards on Tuesday.
Shredder feed prices have fluctuated the most in tandem with zorba prices that started climbing again recently. Shredder operators have been focusing on their captive tonnage over the past month while stopping further material movements from independent yards. Shredder feed continues with wide price ranges transacting at $215-255/gt delivered, based on dock location and prior sales level.
The latest export prices to Turkey for HMS 1&2 (80:20) have risen by $15.42/mt since Feb 9 to $413.75/mt cfr, however prices are relatively flat compared to $414.80/mt cfr levels for the material on Jan. 26.
Exports to Turkey will likely pick up soon as mills are short by about 10 deep-sea cargoes for March shipment and may look for April bookings as well. Mill inquiries on cargoes were not readily met with offers on Tuesday as some suppliers await higher prices, targeting $420/mt cfr for HMS 1&2 (80:20).
In Boston, the weekly Davis Index for export yard #1 HMS rose $10/gt to $320/gt and climbed by $9/gt for P&S 5ft to $330/gt, delivered Boston dock. Shredder feed increased by $17/gt to $231/gt delivered Boston export yard.
The weekly Davis Index for export yard buying prices in New York moved up by $10/gt for both #1 HMS and P&S 5ft to $325/gt delivered and $335/gt delivered, respectively. The index for shredder feed inclined by $15/gt to $240/gt delivered New York dock.
In Philadelphia, the Davis Index for export yard collection prices of #1 HMS increased by $6/gt to $323/gt delivered while P&S 5ft rose by $8/gt to $334/gt delivered Philadelphia dock. The index for shredder feed increased by $15/gt to $241/gt delivered.
In Houston, the weekly Davis Index increased by $23/gt for #1 HMS to $358/gt and P&S 5ft moved up by $22/gt to $375/gt delivered Houston dock. The shredder feed index rose by $22/gt to $275/gt delivered.