Turkey scrap import offers have bounced back to USD 270/MT increased by USD 8/MT after being reportedly fallen to USD 262/Mt this week as more bulk deals reported from USA and Canada based suppliers at lower prices.
According to a trader, “a US based supplier SIMS booked cargo of 20,000 tonne (HMS 80:20) at USD 270/MT increased by USD 8/MT and 20,000 tonne (Shredded) at USD 275/MT.”
The increased prices are said to be because of the cyclone which hit in Australia, it is anticipated that there would be lack of coking coal and hiked steel prices.
Scrap Prices likely to remain firm in short term
Bangladesh Market will remain quiet, as per sources. Proclaimed Price for CFR Chittagong are said to be at USD 310-315/MT (Shredded, Bulk).
According to a trader based in Bangladesh, “The ferrous scrap market is quiet as the buyers and the sellers are not willing to buy/sell in the current market scenario. Market would stay stable for a shorter term and would return strong over a month’s period.”
India and Pakistan ferrous scrap prices according to resources are said to be at USD 310-315/MT (Shredded) levels and USD 280-285/MT (HMS) levels.
According to sources, “A Supplier for Japan scrap mentioned that availability is still a concern in Japan. Hyundai Tender that would open tomorrow would set the trend for the Japanese scrap market.”
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