US east coast dock collection prices for ferrous scrap decreased by $10-15/gt this week, depending on dock location, due to weak export demand and prices.
In Boston, the weekly Davis Index for export yard HMS 1&2 (80:20) decreased by $9/gt from last week to $230/gt delivered dock on Tuesday. P&S 5ft prices declined by $9/gt to $240/gt delivered Boston dock. Shredder feed prices decreased by $5/gt to $160/gt delivered dock. Dock collection prices in Boston are expected to drop another $10/gt by Jan 30.
In New York, the weekly Davis Index for export yard buying for HMS 1&2 (80:20) decreased by $15/gt to $213/gt delivered on Tuesday. The Index for P&S 5ft dropped by $15/gt to $223/gt delivered New York dock while the Index for shredder feed declined by $3/gt to $160/gt delivered.
In Philadelphia, the Davis Index for export yard collection prices of HMS 1&2 (80:20) dropped by $13/gt to $215/gt delivered, with P&S 5ft down by $13/gt to $225/gt delivered. The shredder feed Index declined $3/gt to $163/gt delivered.
There is healthy supply of export material this week, and mild weather on the northeastern coast is helping keep prices low. However, several dealers have ceased shipping because of the low prices. Demand from steelmakers is healthy and may uphold inland pricing, as well as offer dealers attractive prices during February trade next week.
This week’s East Coast dock collection price decline marks the third straight week when bulk exports sellers lowered prices in a bid to protect their margins.