US East Coast and Houston collection prices for ferrous scrap ticked down after climbing for two weeks amid healthy scrap flows and a sluggish export market. Export activity is anticipated to pick up as buyers will soon require material for August shipment.


Dockside sales for #1 HMS on the East Coast dropped roughly by $10/gt to $370-400/gt on Tuesday based on dock location and base price from prior sales. Market participants on the East Coast had expected the downturn last week.


The Davis Index for US HMS 1&2 (80:20) exports to Turkey has been rangebound, hanging close to $500/mt cfr for over a month. The index for the grade stood at $499.52/mt cfr on Tuesday compared to $497.50/mt cfr on Jun 22. A longer-term monthly view shows little movement compared to 502.50/mt cfr on Jun 1. 


In Boston, prices were flat as they were still below the levels at surrounding docks. The weekly Davis Index for export yard #1 HMS held at $380/gt and P&S 5ft was unchanged at $390/gt delivered Boston dock. Shredder feed was flat at $270/gt delivered Boston export yard. 


The weekly Davis Index for export yard buying prices in New York fell by $10/gt for #1 HMS to $395/gt delivered, P&S 5ft dropped by the same amount to $405/gt, and shredder feed moved down by $8/gt to $315/gt delivered New York dock. 


In Philadelphia, the Davis Index for export yard collection prices moved down by $10/gt for #1 HMS to $396/gt delivered and P&S 5ft fell by $11/gt to $405/gt delivered Philadelphia dock. The index for shredder feed fell by $7/gt to $316/gt delivered. 


Houston’s, the weekly Davis Index fell by $13/gt for #1 HMS to $418/gt delivered on a healthy supply of the material. The index remained unchanged for both P&S 5ft at $451/gt and shredder feed at $335/gt delivered Houston dock. 


Leave a Reply

Your email address will not be published.