US East Coast and Houston dock collection prices for ferrous scrap have risen incrementally since the end of August. Material flow remains condensed and export demand, while existent, has been restrained.
Collection prices along the East Coast gained about $2-8/gt while Houston dock prices were generally unchanged from levels seen on September 8.
Turkish mills slowed buying activity this week, and project prices for US-origin HMS 1&2 (80:20) will drop to $300/mt cfr. However, suppliers are hesitant to sell below $305/mt cfr, which is where offer levels stood last week. Turkish mills anticipate restarting purchases within the next week to fulfill October tonnage needs.
In Boston, the weekly Davis Index for export yard HMS 1&2 (80:20) rose by $6/gt to $240/gt delivered dock. P&S 5ft climbed by $5/gt to $250/gt delivered Boston dock, while the shredder feed index was unchanged for a second week at $178/gt delivered.
The weekly Davis Index for export yard buying prices in New York increased by $8/gt to $241/gt delivered for HMS 1&2 (80:20). The P&S 5ft index rose by $7/gt to $251/gt delivered dock, while the shredder feed index ticked up by $2/gt to $187/gt delivered.
In Philadelphia, the Davis index for export yard collection prices of HMS 1&2 (80:20) climbed by $5/gt to $241/gt delivered, while P&S 5ft increased by $7/gt to $250/gt delivered Philadelphia dock. The index for shredder feed rose by $3/gt to $191/gt delivered.
The weekly Davis Indexes in Houston were flat for HMS 1&2 (80:20) and P&S 5ft at $255/gt and $263/gt, respectively. The shredder feed index decreased by $2/gt to $191/gt delivered. Domestic scrap demand is healthy in the Houston area, with mills reporting strong flat-rolled steel sales and high capacity utilization rates.