Offers for ferrous scrap from Europe including UK, to
be delivered to end-users in March, have increased as stronger export markets
resulted in mills raising their buying prices.
UK
ferrous scrap prices rise by around US$ 15/MT this month. Meanwhile, such prices were
negotiated by traders, depending on the quality and previously agreed delivered
price. Offers for HMS 1&2 (80:20) reached at US$ 415/MT FOB i.e. up by US$
10/MT from previous offers.
Further, ferrous scrap offers into South East Asia
are on the rise for the second week. Prices up by US$ 10/MT. Offers
of HMS 1&2 (80:20 mix) from the USA and Europe into the region are at US$ 450-460/MT
CFR , up from US$ 440-450/MT CFR couple of weeks ago. Offers from South Africa
and South America are lower at $440-450/MT CFR.
Offers
to India also remained firm at US$ 455-465/MT CFR for heavy melting scrap
1&2 (80:20) depending upon the quality and size of the material. While,
shredded scrap sold at US$ 475-485/MT CFR (to be delivered in end of the March)
According
to a trader based in Singapore, “Scrap offers into the region are still very
firm. Demand in the region is not strong, but suppliers keep raising their
offers.”
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