US East Coast dock collection prices for ferrous scrap decreased by about $10-20/gt this week amid month-long weak export demand. This is the fourth consecutive week that US East Coast dock collection prices for ferrous scrap decreased. 

 

In Boston, the weekly Davis Index for export yard HMS 1&2 (80:20) decreased from last week by $20/gt to $210/gt delivered dock. The Index for P&S 5ft declined by $20/gt to $220/gt delivered Boston dock and declined by $10/gt to $150/gt delivered for shredder feed. 

 

The weekly Davis Index for export yard buying prices in New York for HMS 1&2 (80:20) decreased by $10/gt to $203/gt delivered on Tuesday and dropped by $10/gt to $213/gt delivered New York dock for P&S 5ft. The Index for shredder feed declined by $15/gt to $145/gt delivered. 

 

In Philadelphia, the Davis Index for export yard collection prices of HMS 1&2 (80:20) declined by $15/gt to $200/gt delivered, with P&S 5ft decreasing by $15/gt to $210/gt delivered. The Index for shredder feed declined by $18/gt to $145/gt delivered.  

 

For some East Coast bulk export locations, HMS 1&2 (80:20) declined by around $40/gt or more from around $240/gt a month ago to about $200/gt or less this week. Bulk export sellers are reducing collection prices, in some cases to $190/gt for HMS 1&2 (80:20), in an effort to protect their margins.

 

Although exports to Turkey have declined, Turkish imports of US-origin HMS 1&2 (80:20) booked on Monday were at $270/mt cfr, with lower-priced unconfirmed deals reported Tuesday. Davis Index was notified that Turkey is pressing for the next sale to be at around $255/mt cfr, which would translate to docks dropping collection prices further. At that level, many sellers will not move tons, so it is unclear if the docks will be able to secure export material at that price level.  

 

US domestic ferrous trading also commenced Tuesday in Detroit with decreases of $20/gt for shredded and cut grades, and $10/gt for prime grades, with surrounding markets projecting similar price movements on Wednesday. 

 

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