SteelMint in conversation with sources learned that Hyundai Steel has booked 45,000 HMS 1 scrap from US recently for Oct loading and arrival in Nov.
The deal was learned to have concluded at USD 275/MT, CFR basis.
Global scrap prices have come down sharply. Assessment of US-origin HMS 1&2 (80:20) scrap has moved down to USD 240/MT, CFR Turkey, down USD 12/MT W-o-W. While assessment of European origin HMS 1&2 (80:20) currently stands at USD 235/MT, CFR Turkey.
In Japan after observing 2 price cuts in a week since last 3 weeks, Japan’s EAF mini-mill Tokyo Steel, observed 3 price lowerings in its scrap purchase price last week.
Following both the price cuts, the company is now paying JPY 23,500/MT (USD 217) for H2 scrap delivered to Utsunomiya plant while the price for H2’s delivery to its Tahara and Okayama works stand at JPY 24,000/MT (USD 222) and JPY JPY 22,000/MT (USD 203) respectively.
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