US East Coast dock collection prices for ferrous scrap ticked up by about $5/gt but were flat at Houston dock. Export activity has picked up since last week, though inclement weather and stronger price expectations for March have slowed scrap movement.
Dockside #1 HMS was transacting flat at $320-335/gt for most sellers in various East Coast export yards on Tuesday. The latest US export prices to Turkey for HMS 1&2 (80:20) stand at $444.80/mt cfr, up $31.05/mt compared to $413.75/mt cfr on Feb 16.
Price increases for both exports and bulk export yards are anticipated to transpire later this week into next week. Domestic ferrous is also forecast to gain $20-30/gt or more for secondary grades next week. Mills are projected to have strong scrap buying programs in March while exports have been on an uptrend for the past two weeks, also driving price gain expectations.
In Boston, the weekly Davis Index for export yard #1 HMS inched up by $4/gt to $324/gt and rose by $5/gt for P&S 5ft to $335/gt delivered Boston dock. Shredder feed increased by $10/gt to $241/gt delivered Boston export yard.
The weekly Davis Index for export yard buying prices in New York moved up by $3/gt for #1 HMS to $331/gt delivered and increased by $5/gt for P&S 5ft to $340/gt delivered New York dock. The index for shredder feed inclined by $7/gt to $252/gt delivered.
In Philadelphia, the Davis Index for export yard collection prices of #1 HMS increased $5/gt to $328/gt delivered, P&S 5ft went up by $3/gt to $337/gt delivered Philadelphia dock, and shredder feed increased by $10/gt to $251/gt delivered.
The weekly Davis Index in Houston remained unchanged for all grades with #1 HMS flat at $358/gt, P&S 5ft unchanged at $375/gt delivered Houston dock, and shredder feed settling at $275/gt delivered. Houston is recovering from extreme weather and resulting logistic issues, which paused dockside activity while the focus shifted to domestic obligations.