Japanese Busheling Shredded Scrap Offers high for Indian Market

Japanese busheling shredded ferrous scrap offers to Indian market continue to remain high on strong Japanese currency and better realizations from Korean and Taiwanese buyers.

Current offers for Japanese busheling shredded are in the range of USD 260-265/MT, CFR Nhava Sheva, which were at the same level last week.No deals have been reported from Japan to India in last few weeks.

Container freight from Japan to India is around USD 45-50/MT. Prices on FOB Japan basis are around USD 210-215/MT, equivalent to Yen 21,000/MT.

Japanese H2 export offers are hovering in the range of 18,000 Yen, which is equivalent to USD 173-175/MT FOB Japan.

Shredded scrap offers from US/Europe are assessed in the range of USD 220-222/MT, CFR Nhava Sheva. Some deals have also been reported at usd 215-220/t CFR Nava Sheva.

Japanese scrap prices

Source: SteelMint Research