Japanese ferrous scrap offers to Indian market continue to remain high this week despite low buying interest. Reason for hike in offers is better realization in Korean market, which remains preferred market for Japanese suppliers.
Current offers for Japanese busheling shredded are in the range of USD 255-260/MT, CFR Nhava Sheva. Buyers resist to take positions at these levels. Indian smelters mentioned that offers are high and not feasible at current steel prices.
Shredded scrap offers from US/Europe are assessed in the range of USD 225-235/MT, CFR Nhava Sheva but no major deals were heard to be concluded.
Japanese scrap offers to Bangladesh at USD 250-255/MT, CFR
Japanese busheling shredded scrap offers to Bangladesh market are reported to be hovering within USD 250-255/MT, CFR Chittagong. Bangladesh is emerging as a major buyer for Japanese scrap due to its superior quality. Shredded offers from US/Europe to Bangladesh are in the range of USD 235-240/MT, CFR Chittagong.
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