Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

US East Coast dock collection prices for ferrous scrap were unchanged this week, while Houston dock prices surged on gradual price increases dating to mid-July, which have been driven by improving demand and condensed material flow. 


Markets were fairly quiet Tuesday, following the September ferrous domestic trade and Labor Day weekend. However, export demand has been persistent, and dockside prices are projected to continue rising.


Turkish mills are actively purchasing material this week for October shipments, with US offers for HMS 1&2 (80:20) around $305-310/mt cfr. US sellers offered export HMS 1&2 (80:20) for $285/mt cfr to Turkey on August 4, when collection prices were around $210-220/gt.


In Boston, the weekly Davis Index for export yard HMS 1&2 (80:20) was unchanged at $234/gt delivered dock. P&S 5ft was flat at $245/gt delivered Boston dock, while shredder feed remained $178/gt delivered.


The weekly Davis Index for export yard buying prices in New York remained flat at $233/gt delivered for HMS 1&2 (80:20). P&S 5ft was unchanged at $244/gt delivered dock, while shredder feed remained at $185/gt delivered. 


In Philadelphia, the Davis index for export yard collection prices of HMS 1&2 (80:20) was flat at $236/gt delivered, while P&S 5ft remained at $243/gt delivered Philadelphia dock. The index for shredder feed was flat at $188/gt delivered.  


The weekly Davis Indexes in Houston increased by $19/gt for HMS 1&2 (80:20) to $255/gt delivered, and P&S 5ft rose by $20/gt to $265/gt delivered. The shredder feed index increased by $22/gt to $193/gt delivered. As projected last week, Houston dock prices increased following the upward domestic scrap movements during September trading.

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