US East Coast and Houston dock collection prices for ferrous scrap have lost momentum over the past two weeks amid healthy material flow and reduced export movement. 

 

Dockside prices on the East Coast have fallen by about $5-10/gt since Sep 15, while Houston dock prices were relatively unchanged before they fell by about $10/gt since last week. Some East Coast bulk exporters lowered collections for HMS 1&2 (80:20) to around $230/gt on Tuesday, but a few sellers with existing orders remain at $240/gt.

 

Export activity has rested on lowered demand from Asian destinations as domestic flows have been meeting their requirements. However, buying is projected to accelerate in Turkey this week to fill the tonnage needs for October and November. 

 

Bids for HMS 1&2 (80:20) in the Turkish market were around $290/mt cfr on Tuesday but are being met with few offers. US offers for HMS 1&2 (80:20) to Turkey on Sep 8 were around $305-310/mt cfr when East Coast dockside prices were about $235/gt for the grade. Collections on the East Coast were at similar levels on Tuesday, so the gap of $10-20/mt in Turkish proposals is likely the motive for lowered price efforts.

 

In Boston, the weekly Davis Index for export yard HMS 1&2 (80:20) moved down by $7/gt to $236/gt delivered dock. P&S 5ft also dropped by the same amount to $246/gt delivered Boston dock, while shredder feed slipped by $8/gt to $167/gt delivered.

 

The weekly Davis Index for export yard buying prices in New York ticked down for HMS 1&2 (80:20) and P&S 5ft by $5/gt to $235/gt delivered and $245/gt delivered, respectively, while shredder feed slid by $8/gt to $178/gt delivered. 

 

In Philadelphia, the Davis index for export yard collection prices of HMS 1&2 (80:20) declined by $4/gt to $237/gt delivered, P&S 5ft moved down by $3/gt to $247/gt delivered Philadelphia dock, and shredder feed fell by $10/gt to $179/gt delivered.  

 

The weekly Davis Indexes in Houston decreased $6/gt for HMS 1&2 (80:20) to $255/gt, while P&S 5ft moved down $10/gt to $270/gt. The shredder feed index dropped $7/gt to $189/gt delivered.

Leave a Reply

Your email address will not be published.