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

The weekly Davis Index for basic pig iron (BPI) fell by $18/mt to $618/mt cfr New Orleans port on Friday in a quiet market ahead of August domestic scrap trading next week. The weekly Davis Index for CIS BPI decreased by $14/mt to $587/mt fob Black Sea on Friday on sluggish demand.


The latest BPI deals were heard at $638-640/mt cfr Nola. This week, some CIS suppliers would agree to sell at $625-630/mt cfr Nola, but firm bids are missing and buyers target below $600/mt cfr Nola.


The Davis Index for nodular pig iron (NPI) imports fell by $25/mt to $740/mt cfr Nola. The grade is in tight supply with offers for future shipment only. Offers for NPI are now under $750/mt cfr Nola with bids $20/mt below offer levels.


US hot briquetted iron (HBI) imports decreased by $3/mt to $475/mt cfr Nola. Offers and bids have not been heard for the grade. The material’s price level is in line with the latest offers together with a price estimation based on comparable grades.


Trading was muted in the Black Sea basin as well because of which, the weekly Davis Index for CIS BPI in Italy dropped by $12/mt to $643/mt cfr on Friday. Around 1,500mt of the material was booked from Ukraine at $652-653/mt cfr late last week. Italian importers expect lower prices amid higher availability of pig iron from the CIS, India, and Brazil. Indian exporters were also offering to Turkey at $620/mt cfr this week.


A Russian supplier sold small tonnages of BPI to Eastern Europe at €630/mt dap Belarus and small tonnages of semi-nodular pig iron at €645/mt dap Belarus.


A new transaction was fixed in Asia, where an exporter from Far East Russia was heard to have sold 5,000-10,000mt of pig iron to China at around $590/mt cfr.

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