- Turkish imported scrap prices climb to 9 years high
- Japan’s Tokyo Steel announced 11th price hike for scrap purchase in Dec
- Imported scrap prices in South Asia up around $25-30/t w-o-w, buying subdued
- Shagang Steel raised scrap purchase price by RMB 80 ($12)
- Turkey’s imported scrap prices rise further to nine years high – Turkey imported scrap prices continued to climb on restocking ahead of the holiday season and steelmakers have now accepted the high levels of imported scrap price as a sharp growth in other products like semi-finished and finished steel remain supported by imported scrap prices. Interestingly, most of the confirmed bulk cargo bookings have been registered by the European, Russian, and Baltic origin suppliers this week. SteelMint’s assessment for USA origin HMS 1&2 (80:20) stands at $475/t CFR Turkey, up by $37/t on w-o-w.
- India’s imported scrap buying remains slow at increased offers – Imported scrap prices to India have kept themselves away from the global price uptrend, as continuing to worsen the market situation. Though limited offers to India have been reported this week, due to ongoing year-end holidays kept suppliers in a relaxed mood, and suppliers would start quoting fresh offers from 1st week of Jan’21. However, limited scrap availability and container shortage have continued to keep the price high, SteelMint learnt. SteelMint’s assessment for Shredded scrap in containers of UK/EU origin stands at $460/t CFR Nhava Sheva, moving up significantly by $22/t w-o-w.
- Bangladesh imported scrap prices up on limited availability – The global scrap prices continue to move north from the last two months and have now witnessed a multi-year high level. Major suppliers from the UK/EU may have closed their yards for the winter holidays which coupled with tight scrap availability is keeping the prices high. Imported scrap offers in containers to Bangladesh have soared around $100/t in the last one month. There were however limited buyers at this price and the domestic market remains less supportive. SteelMint’s assessment for containerized shredded stands at $470/t CFR Chittagong level, up by $35/t w-o-w.
- Global demand pushes import scrap offers to Pakistan – Imported scrap prices to Pakistan have continued to rally, still supported by a stir in the global market due to tight availability. Not many recyclers were actively seen offering material due to holidays. Hence limited offers continued to push offers up in Pakistan. SteelMint’s assessment for imported shredded 211 scrap in containers from UK/Europe stands at $455/t CFR Qasim, moving up considerably by $20/t as compared to the beginning of last week.
- Tokyo Steel raised scrap purchase thrice this week –Japan’s leading EAF mill- Tokyo Steel has announced three price hikes for scrap purchase this week. According to today’s revision the company would now pay JPY 43,000/t ($416) for H2-scrap delivered at both Tahara and Utsunomiya works. Notably, this is the company’s 11th price hike in December.
- Japanese scrap export prices up further –Japanese scrap offers to South Korea have increased significantly in the last two weeks. Suppliers are quoting around JPY 44,000-45,000/t FoB basis for H2 to South Korea last week. SteelMint’s assessment for Japanese H2 now stands at JPY 44,500/t FoB level, up by JPY 2,500/t w-o-w. Bulk Japanese H2 scrap offers for Vietnam and Bangladesh currently stands at $470/t and $485/t CFR basis respectively.
- China’s Shagang Steel raises scrap purchase price by RMB 80 – Eastern China’s largest EAF steelmaker- Shagang Group has hiked its scrap purchase price on 21st Dec’20 by RMB 80/t ($12) for all grades. The purchase price of HMS (6-10 mm) thickness has stood at RMB 3,020/t ($461), inclusive of 13% VAT delivering to headquarters works at Zhangjiagang North of Shanghai in China.
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