This week observed hike in imported scrap prices in Turkey amid strengthening market sentiments in finished steel. However scrap prices in Japan continued to remain on the lower side witnessing fall in bids from Hyundai Steel and also reduced bids in monthly Kanto tender.
Japan’s monthly scrap export tender fetches bids down by USD 24/MT – In the Kanto scrap tender for Feb’18, total 15,000 MT of Japanese H2 scrap was awarded through three winning bids placed at an average price of JPY 34,750/MT (USD 319), FAS Japan. Average bid for Feb’18 tumbled down by JPY 2,639/MT (USD 24) as against JPY 37,389/MT (USD 343), FAS Japan in Jan’18. The auction witnessed three winning bids each for 5,000 MT out of which highest (H1) fetched at JPY 34,800/MT (USD 320), second highest (H2) at JPY 34,750/MT (USD 319) and third at JPY 34,700/MT (USD 318.5)on FAS Japan respectively.
Japan’s Tokyo Steel slashed scrap purchase price by USD 9/MT – Japan’s leading EAF steel producer – Tokyo Steel announced cut in its domestic scrap purchase prices by JPY 1000/MT (USD 24) w.e.f 07 Feb’18. Now H2 scrap fetches JPY 37,000/MT (USD 340) at largest work in central Japan-Tahara. While the same grade fetches JPY 36,000/MT (USD 331) at Utsunomiya works in north Japan, H2 bids are placed at JPY 35,000/MT(USD 322) for Okayama and Kyushu works in west Japan while for its Takamatsu Steel Center company keeps bids at JPY 34,500/MT (USD 317).
Hyundai Steel slashed bids for Japanese scrap by USD 9/MT – South Korea’s leading electric arc furnace steelmaker – Hyundai Steel has further reduced its import prices for Japanese ferrous scrap by Japanese Yen 1000/MT (USD 9). Its latest bid put for H2 grade scrap was at JPY 34,500/MT (USD 317), FoB Japan against its last bid of JPY 35,500/MT (USD 326), FoB Japan.
Turkey imported scrap prices move up on price lift in finished steel- Imported scrap prices in Turkey moved up in recent deals concluded in 2nd half of the week over the strengthening of both demand and prices for finished steel in the country. After witnessing a fall of around USD 33-35/MT in last one months’ time, imported scrap prices in Turkey have climbed up by USD 7-8/MT in the deals concluded recently. The price assessment of USA origin HMS 1&2(80:20) moved up to USD 350/MT, CFR Turkey against previous assessment of USD 342/MT, CFR Turkey.
Rising demand for scrap from Indian steel mills – Indian steel mills remained active and inquiries witnessed an increase. Offers for Shredded in containers is assessed at USD 370/MT, CFR Nhava Sheva. However offers HMS 1 from Dubai is assessed at USD 360/MT, CFR and that from West Africa and UK around USD 345/MT, CFR.
Pakistan and Bangladesh importers remained inactive – Imported scrap buyers in Pakistan and Bangladesh remained less active this active. Bangladesh steel mills preferred domestic scrap than going for imported. Very few offers for Shredded and P&S scrap was assessed at USD 380/MT, CFR Bangladesh. While in Pakistan, offers for containerized Shredded 211 from USA remained in the range of USD 360-365/MT, CFR Port Qasim. While few offers for UK origin Shredded scrap heard at USD 358-360/MT levels.
Global ferrous scrap prices – week 06, 2018
| Particulars | Current Prices in USD/MT | W-o-W |
| HMS (80:20) from US, CNF Turkey | 350 | -+5 |
| HMS 1&2 (80:20) from Dubai, CFR India | 355 | = |
| Shredded from UK , CFR India | 370 | –+5 |
| Shredded from UK, CFR Pakistan | 358-365 | -= |
| Shredded ,CFR Bangladesh | 380 | = |
| HMS (80:20) from US, CNF Taiwan | 333 | -7 |
| HMS (80:20), FoB Europe | 323 | -10 |
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