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

Southeast Asian market prices are dropping as the COVID-19 situation intensifies and lockdowns get extended. 


Japan domestic

Tokyo Steel has kept its ferrous scrap purchase prices unchanged. Bids for #2 HMS at JPY50,000/mt ($454/mt) del Tahara. While bids for the grade at JPY50,500/mt ($458.54/mt) del Okayama, JPY49,000/mt ($444.92/mt) del Kyushu, and JPY49,000 ($444.92/mt) del Takamatsu.


South Korea’s Hyundai Steel lowered bids for Japanese ferrous scrap by JPY500-1,000/mt ($4.55-9.11/mt) on July 29. The steelmaker lowered bids by JPY1,000/mt for medium grades like HMS #2 and shredded to JPY47,000/mt ($427/mt) and JPY57,000/mt fob Japan, respectively. While bids for premium grades P&S (HS) 5ft and #1 bushelling were down by JPY500/mt to JPY60,000/mt and JPY64,000/mt fob, respectively. A tight supply of high-grade scrap limited the price cut.



Taiwan’s imported ferrous scrap market continues to struggle with slow demand. The weekly Davis Index for containerized #1 HMS dropped $8/mt to settle at $450/mt whereas the index for #1 busheling dropped by $8/mt to $480/mt cfr Taiwan. 


The index for shredded and P&S 5ft dropped by $8/mt to $465/mt and $472/mt cfr Taiwan, respectively. 


The weekly index for HMS 1&2 (80:20) settled at $442/mt cfr Taiwan port, down by $8/mt. 



The growing outbreak of COVID-19 led the Vietnamese government to impose a strict two-week lockdown in the country’s capital and commercial hub Ho Chi Minh City from July 18. 


The weekly Davis index for containerized #1 HMS, Thursday, dropped by $7/mt to settle at $460/mt cfr Vietnam. The weekly index for shredded and P&S 5ft dropped by $7/mt each to $475/mt and $482/mt cfr Vietnam.


The weekly index for #1 bushelling dropped by $8/mt to $492/mt cfr Vietnam port. 


The weekly Davis index of HMS 1&2 (80:20) settled at $450/mt cfr Vietnam, down by $7/mt from the prior week.


Billet offers for August shipment range from $685-770/mt. 



The weekly Davis index for P&S 5ft fell by $3/mt to $505/mt cfr Indonesia port. Bids for P&S 5ft at $490-510/mt cfr Indonesia port. The local scrap grade equivalent to P&S 5ft is heard to be offered below $490/mt price level.  


The weekly Davis Index for shredded dropped by $5/mt to settle at $497/mt while the index dropped by $3/mt to $517/mt cfr Indonesia port for #1 busheling. 


The partial lockdown in Indonesia till 25th got extended. Ferrous scrap imports are halted as domestic scrap prices are cheaper and therefore preferred.  


($1= JPY109.85, TWD 27.90, VND22,970.87, IDR14,468.50)

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