Davis Index – Daily metal prices, scrap prices & global metal market

Supporting shredder parts exclusion from tariffs: ISRI

The Institute of Scrap Recycling Industries (ISRI) has supported the exclusion of shredder wear parts from section 301 tariffs in its recently submitted comments to the Office of the U.S. Trade Representative (USTR).   ISRI has explained why the exclusion on shredder wear parts should be reinstated and how the tariff has caused economic harm […]

SAIL reports 36pc jump in November sales

Steel Authority of India reported a 36pc rise in sales volume in November 2019 compared to previous year.   Government owned, Steel Authority of India Limited (SAIL) sales volume was at 1.41mn mt during November 2019 as compared to previous year, stating it as one of the industry’s best.   The company is focusing on […]

Supply side pressures growing in China

China lax on overcapacity controls into 2019. China’s Ministry of Industry and Information Technology recently warned that the steel sector is facing illegal capacity from new unapproved mills and from those that were expected to be shut down in capacity swaps.   A trend of growth in crude steel production.In the first eight months of 2019, China increased […]

Global Primary Aluminum Production Remains Flat for September 2019

The September 2019 Global Primary Aluminum Production numbers have remained unchanged from August 2019. With Q3 results being released from all countries except Asia (estimates), primary aluminum production were unchanged at 5,163, 000mt for the month.   Market Development: With news of the global aluminum production moving within a narrow range since August, the Davis […]

Excel Recycling shredder license restored

A Superior Court ruling on October 3, 2019, has ordered the license reinstatement of Excel Recycling, located in Freetown Massachusetts.    After receiving complaints from residents about noise and emissions coming from Excel’s scrap metal processing plant, Freetown’s Board of Selectmen denied its license renewal on December 5, 2018.    In 2015 Excel began its […]

Softening Prices, Excess Inventory Impact Nucor’s Earnings

A softening market for plate and sheet steel products and excess inventory affected Q3 bottom line of Nucor Corporation. The company announced net earnings of $275mn, or $.90 per share in Q3, down from $676.7mn or $2.13 per share during the same period last year. Its net sales declined to $5.46bn, down 19pc from $6.74bn […]

Scrap exports from Russia can be even less than quota

Russian scrap exporters complain that around 30pc of quota cannot be used. They refer to the fact that some companies, which received quotas, don’t exist anymore or don’t export. Scrap collectors ask Russian Government to handle the situation and re-allocate unused quotas.   Exporter’s concern: Russian Government restricted scrap exports to 1,009,200 t in September-December […]

Proposed Kadapa steel plant to receive ore from NMDC

National Mineral Development Corporation (NMDC) will supply iron ore for the proposed steel plant in Kadapa district, Andhra Pradesh. The state expects investments of Rs2 lakh crore in steel and petroleum sectors in the next five years.    The assurance for supply of iron ore to the plant was agreed upon during the meeting between Dharmendra Pradhan, […]

Refined lead production rises by 9pc in Sept

Refined lead production in September was up 9pc at 1,051,800mt compared to 973,200mt in the same month prior year. Consumption of refined led was up 12pc to 1,112,200mt compared to 1,112,200 prior year, according to WBMS.    Lead deficit however doubled to 310,000mt in the period Jan-Sept 2019 following a shortage of 243,000mt reported in […]

Plans to revive construction to aid steel demand

India approves measures for reviving the construction sector, which will indirectly increase the demand of long steel products like rebar, rail and structures, wires, pipes over the long-term.    Construction and infrastructure sector are the major driver of steel consumption in India accounting for 60pc of total steel consumption. Out of the total steel consumption, […]