China:
China’s
scrap importers become quiet this weekend with no or little buying. Some
mini-mills are successful in lowering their scrap purchase prices.
Markets sources told that one of the Chinese mills
are heard of purchasing about 5000 MT of scrap at $410/MT CFR from Japanese
suppliers. However, HS grade offers were high on the back of bookings in Vietnam
at $412- 413/MT CFR Vietnam last week.
India:
Imported
scrap offers to India continue to be stable this week. One of the major Mumbai based
scrap importer has recently booked 250 tons of HMS I & II (80:20) grade from
US suppliers at around $390/MT. He believe that scrap import offers are constant
now but expected to move up in the coming week’s time.
Shredded scrap import offers to India also remained
stable last week , with offers for shredded scrap (containerized) varied from
$420-425/t CFR, Mumbai, from European exporters, where as US exporters
heard to have kept offers at around $425/t CFR, Mumbai.
Taiwan:
Scrap
import offers keep on falling in Taiwan throughout the end of January month. In
the beginning of the year HMS I & II (80:20) scrap prices were at the
height of $399-401/MT CFR Taiwan. But now the scrap prices of same grade fall
to $390/MT CFR Taiwan by $5/MT Week-on-Week basis.
Korea:
Korean mills have started cutting their scrap purchasing prices. Market sources
told that Posco Specialty Steel, one of the largest steel makers of the country
announce to cut its scrap prices by Won 10,000-15,000/MT or $9-14/MT, effective
from January 28.
US scrap suppliers are offering their material at $425-430/MT
CFR Korea.
Japan:
– Scrap
export prices weekend here on weakness of their currency yen against the dollar.
However some deals were concluded to China and Vietnam
at $410/MT CFR China (HS grade) and at $412-413/MT CFR Vietnam (H2 grade scrap)
respectively as per sources.
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