Turkey imported scrap prices observe decline in recent trades – Imported ferrous scrap prices in Turkey have fallen sharply amid recent trades by steel mills. Prices have come down by around USD 6-7/MT on weekly premises. Current assessment of US origin HMS (80:20) stands at USD 301-303/MT, CFR Turkey. Last week prices were hovering around USD 310/MT, CFR. Present price assessment for Shredded scrap is around USD 306-308/MT, CFR.
Chinese steel mills raise scrap usage –Announced sintering cuts have let blast furnace users increase their scrap usage ratio. Current offers for Chinese Bushelling scrap is heard around USD 340-345/MT, FoB; offers for LMS bundle are around USD 245-250/MT and that for LMS Shredded are heard around USD 325-330/MT, FoB.
Tokyo Steel raised scrap purchase price for 3rd time in Nov – Japan’s leading EAF steel producer – Tokyo Steel has raised scrap purchase price for the third time in a row in Nov’17 w.e.f 10 Nov’17. Tokyo Steel has increased its scrap buying prices further by JPY 500/MT (USD 4) at three works of the company-Okayama, Kyushu and Takamatsu Steel Centre. However prices at its Tahara and Utsunomiya remains unchanged. Now H2 scrap fetches JPY 34,000/MT (USD 300) at largest work in central Japan-Tahara. While the same grade fetches JPY 33,000/MT (USD 291) at Utsunomiya works in north Japan, JPY 32,500/MT (USD 287) at Okayama and Kyushu works in west Japan respectively. For its Takamatsu Steel Center company keeps bids at JPY 32,000/MT (USD 282).
Japan’s Kanto monthly scrap export tender for Nov’17 fetches bids Up by USD 12/MT – As per the recent update, in the tender concluded on 9 Nov the average bid price for H2 grade scrap stood at Japanese Yen 31,890/MT FAS (USD 280/MT) for the Japanese special grade ferrous scrap (H2), higher by Yen 1,338/MT last month. Around 20,000 MT H2 grade scrap was auctioned through this tender.
Pakistan steel mills actively restocking imported scrap – Amid restocking activities, Pakistan based steel mills have continued to book imported scrap vessels aggressively. Shredded scrap offers from UK & Europe in containers to Pakistan are around USD 335/MT, Port Qasim and deals are getting concluded at USD 333-335/MT, CFR.
Bangladesh steel mills prefer ship breaking scrap over melting scrap – Steel mills in Bangladesh remained inactive this week amid increasing offers for imported scrap. However ship breaking scrap being cheaper remained more preferable. Price assessment for Shredded scrap in containers stood at USD 345/MT, CFR Chittagong.
Indian imported scrap market remains dull – Imported scrap offers to India remained majorly stable. Imported scrap offers to India remained mostly stable this week and are reported at USD 335/MT, CFR Nhava Sheva for Shredded grade UK origin. Although not significant buying interest was seen from importers end. Offers for HMS are heard around USD 305/MT, Nhava Sheva.
Global imported scrap reference prices as on 11 Nov’17 –
|
Particulars |
Current Prices in USD/MT |
W-o-W |
| HMS (80:20)from US, CNF Turkey | 301-303 | -6 |
| HMS 1 & 2 , CFR India | 305 | = |
| Shredded from Europe , CFR India | 335 | +5 |
| Shredded from UK, CFR Pakistan | 335 | +2 |
| HMS from Dubai,CFR Pakistan | 310-315 | +5 |
| HMS (80:20) from Dubai ,CFR Bangladesh | 330 | +10-15 |
| Shredded,CFR Bangladesh | 345 | +10 |
| HMS (80:20) from US, CNF Taiwan | 295 | +10 |
| HMS (80:20), FoB Europe | 279 | -2 |
Source: SteelMint Research
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