US East Coast dock collection prices for ferrous scrap were flat this week, after slight upticks in the previous week, while dock collections in Houston softened.
East Coast dock sales for #1 HMS remained between $335-350/gt on Tuesday with higher and lower adjustments per dock location and prior price point. Freight rates have moderated as some sellers still report lingering deals at $360/gt for the grade.
Some price softening is expected due to limited export activity over the past month, though no changes have yet been announced at East Coast docks.
The Davis Index for US HMS 1&2 (80:20) exports to Turkey are down $6.85/mt since last week and stand at $420.65/mt cfr on Tuesday compared to $427.50/mt cfr last week on April 13. This compares to $419.17/mt cfr for the export-grade on Mar 23.
In Boston, the weekly Davis Index for export yard #1 HMS remained unchanged at $335/gt and flat for P&S 5ft at $346/gt, delivered Boston dock. Shredder feed stayed at $241/gt delivered Boston export yard.
The weekly Davis Index for export yard buying prices in New York was flat for #1 HMS at $343/gt delivered and for P&S 5ft at $353/gt delivered New York dock. The index for shredder feed held unchanged at $250/gt delivered.
In Philadelphia, the Davis Index for export yard collection prices of #1 HMS was flat at $346/gt delivered and P&S 5ft stayed at $355/gt delivered Philadelphia dock. The index for shredder feed remained at $251/gt delivered.
In Houston, the weekly Davis Index moved down by $6/gt for #1 HMS to $337/gt and P&S 5ft decreased by $4/gt to $355/gt delivered Houston dock. The shredder feed index fell by $7/gt to $242/gt delivered. Some bulk exporters have recently lowered prices and markets are expected to soften though demand is still present.