Global ferrous scrap market observed mix sentiments this week. Turkey remained silent, whereas South Asian & South East Asian market observed price hike.
Turkey: After concluding many deep-sea cargo bookings amid winter restocking in last week, this week market remained quiet with no trades. Assessment for US-origin HMS (80:20) stands at around USD 300/MT, CFR Turkey.
Indonesia: KSO Sucofindo – Surveyor (KSO SCISI) has issued a notification this week related to the inspection of no hazardous and toxic (Non-B3) waste. The notification states that the inspections of non-hazardous and Toxic (Non-B3) waste imported to Indonesia started from 17th Dec’19, by following the norms of Regulations of the Ministry of Trade number 84 of 2019.
Last month, the Indonesian government’s Ministry of Trade decided to impose new regulations for import of ferrous scrap – among other waste products – to the country, from 23 Nov’19.
South Korea: Imported scrap offers to South Korea have increased this week. A3 scrap offers from Russia moved up to USD 285/MT, also Japanese origin H2 grade scrap offers too increased to JPY 27,000/MT (USD 247/MT) FOB basis.
Leading EAF steelmaker, Hyundai Steel has hiked its purchase bids for Japanese scrap. In bids presented this week for Japanese scrap, the company has its increased H2 scrap bids to JPY 26,500/MT (USD 242) FoB Japan, as against JPY 24,000/MT (USD ), FoB presented last month. The bid price for other grades was set at JPY 27,000/MT (USD 247) for H 1& 2, JPY 29,500/MT (USD 270) for shredded and higher quality of scrap stood at JPY 30,000/MT ( USD 274) for Shindachibara.
India: Imported scrap offers to India continued to increase this week, however, trades remained limited with dull buying interest at high offers. SteelMint assessment for containerized Shredded from the UK/ Europe to India move up to USD 310/MT, CFR Nhava Sheva. Most European and US yards would reopen in the 1st week of Jan’20 after winter holidays.
Offers for HMS 1&2 (80:20) from the UK stood in the range of USD 275-280/MT CFR. UAE origin HMS 1 & 2 super (ci gi 4-5%) from Dubai was reported at around USD 278-279/MT CFR Nhava Sheva, while HMS 1 (no ci gi) stood at USD 285/MT CFR levels.
West African HMS 1&2 (80:20) was sold at around USD 278/MT CFR Goa for 21 MT loading, while offers for 23 MT average loading stand at USD 280/MT CFR Goa. Offers for South African origin HMS rise to USD 290/MT CFR.
Pakistan: Imported scrap trades to Pakistan have slowed down this week, amid less number of offers available from global suppliers, While offers from USA/Europe origins moved up slightly.
Assessment for containerized Shredded 211 scrap from UK/Europe surged up sharply to around USD 309-310/MT, CFR Qasim, while many yards in USA is being offered at USD 305-306/MT CFR. HMS scrap offers from UAE origin HMS 1 (super) was reported at around USD 280/MT CFR Qasim.
Bangladesh: Imported scrap offers to Bangladesh increased this week against last week. However, trades remain very limited availability of cheaper local scrap.
SteelMint’s price assessment for containerized shredded scrap was stood in the range of USD 318-320/MT, CFR Chittagong up by USD 10-15/MT from the last week’s report. Offers for HMS 1 were reported at around USD 300/MT CFR Chittagong.
China: After observing first price cuts for Dec’19 last week, China’s Shagang Jiangsu Steel group remained stable this week for all grades of domestic steel scrap procurement. Post price cut, Shagang Steel is paying RMB 2,700/MT inclusive of 13% VAT for HMS (6-10 mm thickness) delivered to headquarters works situated in Zhangjiagang north of Shanghai in China.
Vietnam: In a recent deal concluded, a Vietnamese steelmaker has booked a 30,000 MT of a bulk vessel carrying HMS 1&2 (80:20) from the Western Coast of the USA. As per sources, the deal has been concluded at around USD 305/MT CFR. Another Vietnam based steel mill has booked a bulk cargo of shredded scrap at around USD 310/MT, CFR Vietnam from the USA this week.
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