China-
There
seems post holidays increase in heavy scrap purchasing prices by about Yuan
50/MT ($8) in eastern part of the country as per sources. However, prices
are expected to remain stiff in the near future. Current heavy scrap domestic prices
at China are in the range of $465-472/MT all delivered including VAT.
India:
Continuous
increasing scarp imports to the country draw the major attention. Proposals are
going on to the Indian Government for levying import duty on steel melting
scarp. India imported about 5.72/MT of melting scrap during the period of April
2011-March as per data available with sources.
Japan:
Some
upturn in H2 grade scrap export prices and domestic prices are also observed in
Japan. Prevailing Japanese
H2 export offers to Korean buyer’s stands at Yen36, 000/MT ($385) FOB this week.
It is heard that Tokyo Steel Manufacturing lifted its domestic purchase prices by
about Yen500/MT ($5).
Turkey:
Scrap import prices started
rising up on strengthening demand. HMS 1&2
(80:20) prices on 21 Feb 2013 to Turkey are in the range of $398-404/MT CFR
Turkey up by $8-12/MT from the previous quotes at $390-392/MT CFR Turkey. Rise
in prices occurred after a split cargo deal concluded at $405/MT CFR Iskenderun
for the same grade concluded from Texas as per sources.
US:
Snow
fall affected the trade in the Northern US region checking the scrap prices,
correcting it by $10-15/IT. Shredded scrap prices in US mid-west at present are
around $370-375/IT. Whereas Shredded scrap from del dock US East Coast region continued
to be stable at around $365-370/MT FOB.
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