The Asian scrap market has been quiet this week as
most of the scrap exporters are on holidays.
India: Scrap offers to India remain firm at $395-400/MT
CFR for HMS (80:20 blend). Offers for HMS 1 are hovering at $405-410/MT CFR
Korea (for February shipments).
Scrap
offers from US have increased by $10-15/MT CFR during last week for Taiwanese
importers. HMS 1&2 (80:20) was transacted at $377-382/MT CFR Taiwan, from
the previous week’s trade price at $367-375/MT CFR.
Taiwanese buyer booked one bulk cargo of US West
Coast (USWC) cargoes for February shipment at $405/MT CFR for HMS (80:20) and $410/MT
CFR for shredded scrap.
“US
and Japanese exporters are enjoying the holidays resulting in the less supply
of the material”, said an importer based in Taiwan.
Chinese scrap offers rebound on
improved steel prices: Last week, Chinese domestic scrap prices
have increased on the back of steel prices upward trend.
In the
eastern part of the country, scrap prices moved up by $10/MT (CNY 60/MT)
earlier last week. HMS over 6mm thick prices has reached to $447/MT (CNY 2,790/MT)
Ex mills and including 17% VAT.
Northern
part of the country has also witnessed the same margin of increment. Its price
for 6mm thick and up HMS reached to $464/MT (CNY 2,890/MT) Ex mills and
including a 17% VAT.
According
to the market sources, the upward trend of scrap prices in China is uncertain
and more or less it depends on the steel market’s performance.
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