Scarp prices in West Coast of US has witnessed a fresh decline of USD 10/MT W-o-W due to no viability of imported Scrap in Asia.
Currently, the containerized scrap deals were concluded at USD 353-355/MT CFR Taiwan for HMS 1&2 (80:20) and same grade in container has been traded at USD 320-325/MT FAS Los Angeles.
Slipped scrap price has followed the soften Re-bar prices in Asia. Turkey also has booked scrap material in August and inability of US structural Mills to shift the increase prices to customer. However Taiwan traders are expecting to prices may come down below USD 350/MT CFR.
The offers coming from Dubai HMS 1&2 are in the range of USD 330-335/MT CFR Mumbai (India). Similarly, offers from UK and Europe for HMS 1&2 are at USD 350-355/MT CFR Mumbai (India) and shredded scrap have being quoted at USD 370-375/MT CFR Mumbai (India).
Sources are anticipating imported scrap prices to slip more by USD 5-10/MT in coming days. At present stainless steel market is more feasible to trade as compare with ferrous scrap.
Leave a Reply