SteelMint learns that global
scrap prices have rebound to $400/CFR recently on the tight supply of the
material and restocking in steel mills. However, buyers are still calm on bulk
bookings and stay sideways.
In US, domestic
scrap prices hiked to $360/MT, up by $50-60/MT Ex Midwest mills in August. Export
prices have also moved up. US East Coast (USEC) scrap suppliers continued to
keep the offers firm for global buyers including Turkey. HMS1&2 (80:20) and
shredded scrap offered at $405-410/MT CFR and $415-420/MT CFR Turkey
respectively, while Turkey steel mills are expecting $400/MT CFR.
In Asia, Offers to Indian importers stay unchanged at $400-410/MT CFR depending
on the origins. It's known that South Korea and Taiwan, China meet growing
scrap import prices. US scrap dealers' quote HMS 1 at $420/MT CFR to South
Korea compared to $405/MT CFR in July.
From Japan, HMS 2 scrap export quotes to South Korea have soared to JPY 29,000/MT
FOB ($368/MT FOB).
Further, Taiwan's import
prices of the US containerized HMS 1&2 (80:20) hiked to $400/MT CFR.
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