Ferrous scrap market globally has been volatile and has kept the researchers on their feet. Buyers have been in wait and watch situation for quite a long, then returned to the buying business and again had to go to the back foot.
Turkey
According to sources, the largest importer of scrap, seems to be having a quiet week as there is no deals/bookings heard. Since Monday there has been no buying and selling. Suppliers are still offering a bid similar to previous trade offering shredded at USD 270-275/MT and HMS 1&2 (80:20) at USD 280/MT. There is no trade in the market as it is effected by the devaluation of Turkish Lira
USA
US seems to be quite after sale in last week to turkey, US saw a steep increase in their export in Feb’17. Almost 6 days ago there was a deal of bulk scrap sale to Turkey at a rate of USD 276/MT for HMS 1&2 (80:20) and USD 281/MT for Shredded and USD 286/MT for Bonus grade scrap
India-Pakistan-Bangladesh
According to sources, “There have been 4-5 bulk scrap bookings after the hike in freight charges for containerized scrap. The rate of containerized scrap rose up by USD 10-15/MT CFR Nhava Sheva.
The market in Pakistan suggest a rate of USD 310-315/MT levels. The buying is still on the weaker side.
Some bulk scrap bookings have been heard in Bangladesh. As the prices for containerized scrap have increased globally, bulk scrap is being preferred.
Japan
The scrap prices have fallen in the auction that is held monthly. The bid fell by USD 34/MT as compared to the auction held previous month. Even the quantity for which the bid was done also reduced to 118,200 MT in lieu to the previous month which saw bidding for 160,000 MT. The prices for H2 scrap export is said to be at USD 243-248/MT. which is said to be lower than the previous week prices.
According to Steelmint Analysis, “The market is expected to stay volatile as even the coking coal prices have doubled in the past 10 days after being effected by cyclone in Australia. If the prices of coking coal continue to rise it would effect the prices of finished steel also.”
Prices of Imported Scrap as on Week 16 2017
| Particular/delivery | Size, Grade, Origin | Taxes | Prices | Change | 1W | 1M |
|---|---|---|---|---|---|---|
| CNF Bangladesh 14 Apr |
HMS(80:20), Europe | Custom Duty, VAT extra | $315 | 0 | $315 | $320 |
| Shredded, Europe | Custom Duty, VAT extra | $330 | + 15 | $315 | $330 | |
| CNF India 14 Apr |
HMS(80:20), Europe | Custom Duty, VAT extra | $290 | + 5 | $285 | $300 |
| HMS-1, Middle East | Custom Duty, VAT extra | $305 | + 5 | $300 | $310 | |
| HMS-1&2, Middle East | Custom Duty, VAT extra | $295 | + 5 | $290 | $305 | |
| Shredded, Europe | Custom Duty, VAT extra | $313 | + 3 | $310 | $315 | |
| Shredded, US | Custom Duty, VAT extra | $310 | + 5 | $305 | $315 | |
| CNF Pakistan 14 Apr |
Shredded, Europe | Custom Duty, VAT extra | $310 | 0 | $310 | $318 |
| CNF Taiwan 14 Apr |
HMS(80:20), US | Custom Duty, VAT extra | $255 | – 15 | $270 | $278 |
| CNF Turkey 14 Apr |
HMS(80:20), US | Custom Duty, VAT extra | $280 | + 5 | $275 | $301 |
| FOB Europe 14 Apr |
HMS(80:20) | Custom Duty, VAT extra | $255 | + 7 | $248 | $274 |
Weekly Assessment
Prices in USD
Source : Steelmint
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