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

Imported ferrous scrap offers in East Asia were firm on Thursday. Demand, however, remained weak. 



 The weekly Davis Index for containerized #1 HMS, Shredded, P&S 5ft, and #1 busheling jumped by $7/mt to $461/mt, $474/mt, $481/mt, and $489/mt cfr Taiwan, respectively, on Thursday.


The weekly index for HMS 1 & 2 (80:20) was at $454/mt cfr Taiwan port, up by $6/mt.


Demand remains slow in the country. 


 The weekly Davis index for containerized #1 HMS, Thursday, was at $472/mt cfr Vietnam, up by $8/mt. The weekly indexes for shredded rose by $7/mt to $484/mt cfr, P&S 5ft by $8/mt to $492/mt cfr, and #1 bushelling by $8/mt to $500/mt cfr Vietnam port. 

Offers for US-origin HMS 1&2 (80:20) went up from $457/mt to $474/mt cfr Vietnam, despite weak demand and a silent market. 



The weekly Davis index for P&S 5ft fell by $4/mt to $516/mt cfr Indonesia port. Bids for P&S 5ft were at $506/mt.


The weekly Davis Index for shredded and #1 busheling settled down by $4/mt each at $511/mt and $526/mt cfr Indonesia port, respectively.

Billet import offers were heard at $675-680/mt cfr Jakarta from China and other SE suppliers.


Japan domestic

Tokyo Steel increased its ferrous scrap purchase bids by JPY1,000-JPY2,000/mt ($9-$18/mt) del plant, depending upon the grade on Wednesday, effective June 24th, after keeping it unchanged since May 18. Bids for Busheling (Shindachi) were increased by JPY2,000/mt for deliveries to all mills except Kyushu. 


After revision, busheling bids were at JYP55,500/mt ($500.83/mt) del Tahara works, JYP53,000/mt ($478.27/mt) del Okayama, JPY51,000/mt ($460.22/mt) del Utsunomiya, and JPY51,500/mt ($464.74/mt) del Takamatsu.


Revised bids for #2 HMS are at JPY51,000/mt ($460.22/mt) del Okayama, JPY49,000/mt ($442.18/mt) del Utsunomiya, and JPY49,500/mt ($446.69/mt) at Takamatsu, up by JPY1,000/mt.

Demand in Japan remains healthy supporting scrap prices. 

($1= JPY110.82, TWD 27.98, VND23,016.87, IDR14,444.39)

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