After witnessing sharp hike in the imported scrap prices last week, containerized scrap prices remained stable in recent trade deals reported in Pakistan.
As per recent conversations with market participants SteelMint learned that, Pakistan scrap market observed thin trades in containers at almost stable prices again in this week. In a recent trade deal concluded, Shredded 211 scrap in containers sold at around USD 395/MT, CFR Pakistan levels. According to sources, Pakistan based importer booked it from UK based leading scrap supplier.
Offers for Shredded 211 scrap in containers now assessed in the range of USD 395-398/MT, CFR Pakistan depending on the quality of scrap from Europe and UK. Offers for HMS 1&2 (80:20) in containers from Dubai assessed at around USD 385/MT, CFR Port Qasim.
“Pakistan imported scrap prices remained strong amid sharply decreasing scrap inventories. Moreover, domestic steel markets have turned supportive to scrap imports now. Trade deal in containers for UK origin Shredded scrap was concluded at USD 395/MT level while bulk Shredded cargo from USA was offered at USD 405/MT, CFR Pakistan” – shared a Pakistan based steelmaker.
Recently local billet prices in Pakistan have also increased by upto PKR 1,000/MT, ex-mills. Also, domestic billet and rebar markets remain supportive for scrap imports in Pakistan.
Last week imported scrap prices had hiked sharply by USD 15-20/MT on W-o-W basis in Pakistan. Owing to limited inventories available and increased global scrap offers a trade deal for premium Shredded was concluded last week at USD 397/MT, CFR. Thus, price assessment for Shredded scrap remained stable at USD 395-398/MT, CFR.
Turkey imported scrap prices up marginally in recent trades –
Global scrap prices remained strong over strengthened prices for finish steel and the active comeback of China in finish steel markets after New Year holidays.
In a trade deal concluded, a Marmara region based importer booked 40,000 MT cargo comprising 17,000 MT of HMS 1&2(75:25), 10,000 MT of Shredded, 10,000 MT P&S scrap and remaining New cuttings scrap at an average price of USD 359/MT, CFR Turkey respectively.
In another deal a Baltic seller sold HMS 1&2 (80:20) at USD 362/MT and Bonus at USD 372/MT to an Izmir based steel mill in Turkey.
These deals have pushed price assessment of USA origin HMS 1&2(80:20) up by USD 2/MT to USD 362/MT, CFR Turkey against last report of USD 360/MT, CFR.
Leave a Reply