- Turkey’s imported scrap prices drop in a recent deal
- Bids up by $58/t in Kanto scrap export tender, Tokyo Steel cuts scrap purchase price at Utsunomiya after six months
- Bangladesh mills booked four bulk scrap cargoes
- Shagang Group hikes scrap purchase price by RMB 150/t ($23)
- Turkey’s imported scrap prices fall in a recent deal – The mood in Turkey’s import scrap market has changed amidst rumours in the market about new deals in this week. Prices have softened in a recent deal concluded yesterday. Market insiders believe that there is a scope for fresh booking for Feb’21 shipment. The workable price is expected to be below $480/t whereas suppliers are targeting higher levels. SteelMint’s assessment for USA origin HMS 1&2 (80:20) stands at $475/t CFR Turkey, registering a drop of $7/t as compared to beginning of this week.
- Bids rose sharply in Kanto scrap export tender – Japan’s monthly ferrous scrap export tender concluded this week for the month of Jan’21. The winning bid was awarded 15,000 t of Japanese H2 scrap at an average price of JPY 44,751/t ($432) FAS, as compared to JPY 38,710/t ($371) in Dec’20.
- Japan’s Tokyo Steel cuts scrap purchase price at Utsunomiya after six months – Japan’s leading EAF mill- Tokyo Steel has cut its scrap purchase price for Utsunomiya plant (Kanto region) by JPY 1000/t ($9.6) on 13th Jan’21, immediately after the Kanto result. The company is now paying bid price for Utsunomiya at JPY 42,000/t ($404). Prices for other four plants remained unchanged for now. The company has cut its purchase price after six months since July’20.
- South Korean buyers remain cautious on imported scrap bookings – South Korean giant Hyundai Steel didn’t place bids for Japanese scrap in the last three weeks. SteelMint’s price assessment for Japanese H2 scrap export stands at JPY 43,500/t FoB, down on a weekly basis.
- Bangladesh steel mills resume bulk scrap bookings – Bangladesh’s imported scrap market witnessed a flurry of bulk scrap bookings after a pause of around two weeks. Two bulk scrap bookings were confirmed to have been done for Feb’21 shipment in addition to booking made at today’s Kanto tender. Around 30,000 t of USA origin bulk cargo, comprising of HMS 1&2(80:20) and shredded has been booked and the deal was concluded in the range of $500-505/t CFR Chittagong basis. An Australian bulk vessel has been booked for around 25,000 t at $495-500/t CFR basis. Another composite bulk US origin cargo of 32,000 t has been booked recently. The cargo comprises of HMS 1&2 (80:20) booked at $495 and shredded at $500/t CFR Chittagong basis.
- India’s imported scrap prices rise, trade turns quiet – Imported scrap prices in India rose further but trades turn quiet on holidays due to negative sentiments. Offers from yards containerized Shredded stands at $500-510/t, CFR Nhava Sheva levels. However, few traders have significantly lowered the scrap offers towards second half of this week and were trying to push sales in the market in the anticipation that things may get worse in the coming days. Offers for containerised Shredded scrap through high-seas is being heard from traders at $490/t, CFR. Mills await some correction by late January as market could pick up from the next week.
- Pakistan’s imported scrap prices fall in recent high sea sales – After a flurry of confirmed deals that were concluded earlier this week, imported scrap prices in Pakistan have dropped by around $30/t in the new round of trades. Raw material prices are high both in domestic and imported as well. Pakistan based mills had actively booked containerised shredded scrap. SteelMint’s assessment for the UK/EU origin now stands at $475/t CFR levels.
- Shagang Steel increases scrap purchase price for the second time in Jan’21 – Eastern China’s largest EAF steelmaker- Shagang Steel has announced a price hike on 11th Jan’21 by RMB 150 ($23) for all grades. The purchase price of HMS (6-10 mm) thickness stands at RMB 3,250/t ($501), inclusive of 13% VAT delivered to headquarters at Zhangjiagang North of Shanghai.
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