Global scrap offers this week have upsurged by USD 10-20/MT. Recent price rise of iron ore and Chinese billet has showed some confidence to the market.
Turkey
Offers in Turkey, the largest buyer of scrap in the world, have surged by USD 10/MT to USD 240/MT, CFR Turkey for HMS 80:20 from US and Europe. Sources report that higher offers from China and Black Sea has supported scrap offers in Turkey.
India
Scrap offers to India have also increased by USD 10-15/MT. Shredded scrap offers from Europe/US are assessed at around USD 250/MT, CFR Nhava Sheva (India) and HMS (80:20) at USD 230/MT, CFR India.
Buyers are reluctant to take position at these prices as they have option of switching to domestic scrap or DRI.
Taiwan
Scrap offers to Taiwan have also moved up by USD 10/MT this week due to higher billet offers from Chinese suppliers. HMS 80:20 scrap from US is heard to have offered at USD 217/MT, CFR Taiwan.
Current global scrap offers
| Particular | Grade | Prices | 1W | 1M | Remarks |
| CNF India | HMS(80:20), Europe | 230 | 210 | NA | Imported scrap offers to India rise owing to higher offers in global market. Buyers are reluctant to take position at these prices as they have option of switching to domestic scrap or DRI. |
| HMS-1, Middle East | 240 | 230 | 216 | ||
| HMS-1&2, Middle East |
230 | 220 | NA | ||
| HMS-1&2, S.Africa | 240 | 220 | 210 | ||
| Shredded, Europe | 250 | 236 | 222 | ||
| Shredded, US | 250 | 236 | 222 | ||
| CNF Taiwan | HMS(80:20), US | 217 | 206.67 | 172.5 | Prices up by USD 10/T on higher Chinese billet offers. |
| CNF Turkey | HMS(80:20), US | 240 | 230 | 207.5 | Scrap offers continue to rise owing to higher billet offers from China and Black sea. Bulk HMS 80:20 from US heard settled at around USD 245/MT CFR Turkey. |
| CNF Chittagong, Bangladesh |
Shredded, US/Europe |
260-265 | NA | NA | Last trade of shredded scrap was heard at around USD 255-260/MT, CFR Chittagong levels. Rising melting scrap offers are forcing re-rollers to switch to ship breaking. |
| FOB Japan | Busheling Shredded |
217 | 205 | 195 | Strong demand from Korea followed by appreciating Yen kept scrap offers high from Japan |
| FOB Europe | HMS(80:20) | 227 | 208 | 185 | |
| FOB US East Coast |
Shredded | 230 | 227 | 200 | US scrap offers continue to rise on strong buying from Turkey. |
Offers in USD/MT
Source: SteelMint Research
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