In Turkey, imported scrap prices dropped by USD 5/MT against offer levels in last week. India remained out of trade activities while leading steel mill in Pakistan resumed buying in containers. Japan’s leading steel mill Tokyo Steel hiked the scrap purchase prices twice in this week and Japan’s monthly scrap export tender also observed higher bids by USD 6/MT.
Turkey imported scrap prices move down by USD 5/MT – Turkey scrap market has witnessed fall in offers by USD 5/MT on W-o-W basis. Assessment for US origin HMS now stood at USD 350/MT, CNF Turkey. In last deal concluded, An Iskenderun based EAF steel mill booked a premium US origin scrap for October delivery containing 10,000 MT HMS (80:20) at USD 350/MT, 12,000 MT Shredded at USD 355/MT and 3000 MT bonus scrap at USD 360/MT respectively.
Japan’s monthly scrap export tender fetches bids higher by USD 6/MT – Japan’s monthly ferrous scrap export tender Kanto Tetsugen concluded on 12 Sept’17 for this month fetched bids higher by USD 6/MT M-o-M in Sept’17.The winning bid concluded at Yen 32,230/MT (USD 290) compared to Yen 31,606/MT in Aug’17.
Tokyo Steel raises scrap buying prices twice in a week – Japan’s leading steel producer Tokyo Steel has hiked scrap purchase prices twice in this week. This took H2 scrap ‘on land’ prices to Yen 33,000/MT (USD 300) right now at both Utsunomiya work and Tahara factory respectively.
Indian scrap offers mostly stable, buying remains subdued – Imported scrap offers in India continued to be stable on W-o-W basis. Price assessment done for Dubai origin HMS 1&2 is at USD 315/MT, CFR Nhava Sheva and that for Shredded scrap is around USD 340-345/MT, CFR Nhava Sheva. Domestic HMS (80:20) prices now assessed at INR 21,000/MT (ex-Mumbai) and INR 20,500/MT (ex-Chennai), basic prices and GST@18% extra. Domestic scrap being comparatively cheaper continues to be remained preferred over imported.
Pakistan based steel mills resume scrap imports – Imported scrap offers to Pakistan showed unlike movement for HMS & Shredded on W-o-W basis. Price assessment for HMS 1&2 from Dubai stood around USD 335/MT, CFR port Qasim, up USD 15/MT and that for Shredded scrap is around USD 338-345/MT, CFR port Qasim down USD 7-10/MT than last week’s offers.
Two more bulk scrap import vessels reported in Bangladesh – Vessel named ‘Rich Ocean 17’ carrying 9,310 MT scrap from Japan arrived at anchorage in Bangladesh port. Another vessel carrying 29,210 MT scrap from USA in a vessel name ‘Otago Harbour’ was seen at anchorage on 14 Sept’17.
Global ferrous scrap reference prices – Week 38
| Particulars | Current Prices in USD/MT | W-o-W |
| HMS (80:20)from US, CNF Turkey | 350 | -6 |
| HMS 1 & 2 from Dubai, CFR India | 315 | 0 |
| HMS (80:20) from UK, CFR India | 320 | 0 |
| Shredded from Europe , CFR India | 340 | 0 |
| Shredded from USA , CFR India | 345 | 0 |
| Shredded from US, CNF Pakistan | 338 | -7 |
| HMS from Dubai,CNF Pakistan | 335 | +15 |
| HMS (80:20) from US, CNF Taiwan | 295 | -3 |
| HMS (80:20), FoB Europe | 323 | -9 |
Source: SteelMint Research.
Leave a Reply