US Domestic scrap
prices has remained relatively unchanged throughout since December. Current
scrap prices trends shows that domestic scrap offers are around $340-345/Lt for
HMS I&II (80:20) and $345-350/LT for shredded scrap,
respectively. So, there are not major ups and downs in scrap prices.
However ferrous
scrap export offers from US softens on weak demand and reached
a 22-month low in November on reduced purchases of heavy melting scrap cargoes
from Turkey. In fact it is heard
that US ferrous scrap exports started shifting
to Asian countries.
Current HMS I&II
(80:20) export offers from US to Turkey
have
fallen below to $400/MT, down from $404-408/MT as were in the mid of the
January. Export offers to India are in the range of $390-400/MT
The conclusion drawn on this basis is export market has been weak and the
domestic market remains in oversupply.
Leave a Reply