Global ferrous scrap trades slowed down and prices fell after a drop in Turkish imported scrap prices. However, prices in Japan and China remained largely unchanged due to holidays in China and South Korea. South-Asian countries also observed a decline in bids.
- Turkish imported scrap prices slide in recent trades: Turkish imported scrap prices slide further. A West Marmara based steelmaker has booked European origin bulk cargo comprising of HMS (80:20) at $284/t CFR Turkey.
SteelMint’s assessment for HMS 1&2 (80:20) USA stands at $291/t CFR Turkey, down by $7-8/t w-o-w.
- Japanese domestic scrap and export prices remain unchanged: Japan’s Tokyo Steel has not revised its domestic scrap purchase price from the last two weeks. The company is currently paying at JPY 27,000/t ($256) for H2 scrap delivered at its Tahara plant in Central Japan and JPY 26,000/t ($246) in Utsunomiya plant (Kanto region). Also, due to holidays in South Korea, mills are not active in bidding which may reduces Japanese scrap export offers.
SteelMint’s assessment for Japanese scrap export stands at JPY 27,500/t ($261) FoB Japan.
- China’s Shagang Steel scrap purchase price unchanged this week: Eastern China’s Shagang group – has kept its domestic scrap purchase price unchanged due to Chinese holidays started from 1st week of Oct. The purchase price of HMS (6-10 mm) thickness has stood at RMB 2,640/t ($388), inclusive of 13% VAT delivered to headquarters works at Zhangjiagang North of Shanghai in China.
- Indian imported scrap prices fell to two months low: Imported scrap trades to India remained quiet throughout this week with limited inquiries from the buyers’ side. But buyers are expected to be back in the market next week due to infrastructure and the festive season started in India raises demand, shared market participants.
SteelMint’s assessment for Shredded scrap in containers of UK origin stands at $310/t CFR Nhava Sheva, down by $2/t w-o-w.
- Pakistan’s imported scrap trades slow down: Pakistan’s scrap buying activities observed stable in this week. Disparity between bids and offers have limited trades, as per sources. Few deals have been concluded this week. Domestic steel prices remained stable as demand for finished steel is still depressed due to slow construction activities.
SteelMint’s assessment for Shredded 211 scrap in containers from UK/Europe stands at $312/t CFR Qasim,
- Bangladesh steel mills resumes bulk bookings: Bangladesh based steel mills have resumed their bulk scrap bookings after remaining silent for about a week’s time. In a recent deal concluded, 15,000 t Japanese H2 bulk cargo has been booked at $ 307-310/t CFR Chittagong basis, as imported scrap trades have fallen $5-10/t w-o-w.
SteelMint’s assessment of containerized shredded 211 scrap from UK/Europe origins stands at $320/t CFR Chittagong.
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