Demand
for ferrous scrap from Asian mills remained low for US West Coast (USWC)
material this week. Asian steel mills are having enough stock with them, especially
in South Korea and Taiwan.
Higher
offers for the material have restricted buyers to book cargoes. Mills are
looking for cheaper alternatives like Japan. Currently, Japan is offering
ferrous scrap at cheaper rates than US West coast suppliers.
In
the late last week, a South Korean mill has booked the USWC cargo of HMS 1 at $377/MT
CFR, down by $3/MT from the previous week.
Further,
Offers to Taiwan have also dropped by $20/MT from the beginning of October. For
containerized HMS 1&2 (80:20) from USWC, mills are ready to book at $300/MT
FAS.
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