Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

US West Coast (WC) dock collection prices for ferrous scrap made mixed moves this week as bulk exporters continue to struggle to find demand from Asia for new bookings.


Only one bulk booking was confirmed this past week with a West Coast cargo booked by Pakistan at $306/mt for a full shredded cargo.


Asian bulk markets were relatively quiet since offers into most countries were significantly higher than bids. Mills in Korea and Vietnam have struggled to find demand for construction steels in their domestic markets and attempts to lift steel prices failed this week, with no takers. In addition, Japan and East Russia have plenty of scrap on offer at prices much lower than US west coast bulk offers, which were as high as $285-290/mt cfr Vietnam last week. In contrast, bids were $10-15/mt lower.


In the US, weekly collection prices dropped in San Francisco and stayed unchanged in Los Angeles. Prices inched higher in Portland on rising container markets and stronger domestic sentiment.


In Los Angeles, the Davis indexes for ferrous scrap stayed unchanged for a third week. The index for HMS 1&2 (80:20) stayed flat at $162/mt delivered with P&S 5ft at $174/mt. The index for shredder feed decreased by $1/mt to $112/mt delivered.


The Davis Index for San Francisco dock buying prices of HMS 1&2 (80:20) declined by $5/mt to $185/mt, P&S 5ft decreased by $3/mt to $196/mt, and shredder feed decreased by $5/mt to $111/mt, delivered dock.


The Davis Index for Portland dock buying prices of HMS 1&2 (80:20) rose by $3/mt to $216/mt, P&S 5ft rose by $3/mt to $230/mt, and shredder feed rose by $5/mt to $139/mt, delivered dock.


In Houston, the Davis indexes remained unchanged with HMS 1&2 (80:20) at $225/mt, P&S 5ft at $245/mt and shredder feed at $140/mt, delivered dock.


In container export markets, HMS 1&2 (80:20) prices increased by $10/mt this week to $220-225/mt fas Los Angeles. 

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