US East Coast and Houston dock collection prices for ferrous scrap increased further amid reduced material flows, sustained export demand, and imminent domestic scrap trading.
Collection prices along the East Coast and Houston ranged from $225-240/gt on Tuesday for HMS 1&2 (80:20), representing an increase of about $5-15/gt compared with sales from last week, and an increase of around $15-25/gt from a month ago on August 4.
Domestic ferrous scrap trading is anticipated to start by Wednesday with expectations of $20-30/gt price increases or more, especially in the South, which is supporting dock prices as well. Dockside prices on the East Coast and Houston are projected to rise further, following domestic trade settlements later this week.
In Boston, the weekly Davis Index for export yard HMS 1&2 (80:20) increased by $9/gt to $234/gt delivered dock. P&S 5ft climbed by $10/gt to $245/gt delivered Boston dock while shredder feed rose $8/gt to $178/gt delivered.
The weekly Davis Index for export yard buying prices in New York moved up by $9/gt to $233/gt delivered for HMS 1&2 (80:20). P&S 5ft rose by $9/gt to $244/gt delivered dock while shredder feed increased by $11/gt to $185/gt delivered.
In Philadelphia, the Davis index for export yard collection prices of HMS 1&2 (80:20) rose by $12/gt to $236/gt delivered, while P&S 5ft increased by $9/gt to $243/gt delivered Philadelphia dock. The index for shredder feed climbed by $12/gt to $188/gt delivered.
The weekly Davis Indexes in Houston increased by $8/gt for HMS 1&2 (80:20) to $236/gt delivered and rose for P&S 5ft by $7/gt to $245/gt delivered. The shredder feed index increased by $8/gt to $171/gt delivered.