Japanese scrap prices rallied on higher overseas bids. On the other hand China’s Shagang Steel and Japan’s Tokyo Steel kept their scrap purchase prices unchanged this week.
- Turkey’s imported scrap trade slow down: The imported scrap market in Turkey remained silent this week as mills stayed away from placing fresh orders. Market activities remained slow throughout the week.
SteelMint’s assessment of US-origin HMS 1 & 2 (80:20) stood at $470/tonne (t) CFR Turkey, decreasing slightly by $1-2/t w-o-w.
A Baltic-origin scrap cargo comprising HMS 1&2 (80:20) was booked by a steel mill based in the West Marmara region at $467.5/t CFR Turkey.
- Japanese scrap export prices move up: Japanese scrap export offers moved up for the second successive week. Most prominent Japanese scrap buyers like South Korea, Vietnam and Bangladesh raised their bids. However, bid-offer price disparity kept Chinese buyers away from the market.
SteelMint’s assessment of Japanese scrap export offers stands at JPY 52,000/tonne (t) FOB ($457/t) levels, up by JPY 3,000/t w-o-w.
- Hyundai Steel hikes bids for Japanese ferrous scrap: Hyundai Steel raised bids for Japanese HS and H2 grade scrap on 20 Jan’22. Bids have been raised by JPY 2,000/t ($17/t) for high-grade scrap compared to the last bid presented on 13 Jan’22. Bids for HS scrap are now at JPY 60,000/t ($524/t) and for H2 scrap at JPY 51,000/t ($446/t) FOB.
- POSCO hikes bids for Japanese ferrous scrap: South Korea’s POSCO increased bids for Japanese ferrous scrap recently in the range of JPY 3,500-5,500/t ($31-48/t) compared to last bids placed on 17-Jan’22, as per SteelDaily. Bids for shredded scrap are now at JPY 61,500/t CFR ($540/t) and for HS material are at JPY 63,500/t CFR ($557/t).
- Tokyo Steel’s scrap purchase prices unchanged: Tokyo Steel’s scrap purchase prices remained unchanged since the last revision seen on 13 Jan’21. The company is paying the price for H2 scrap at JPY 53,000/t ($466/t) delivered to Utsunomiya, while prices for the other plants remain unchanged.
- Vietnam’s imported scrap offers up: Vietnam’s imported scrap offers moved up significantly following a sharp rise in the Kanto tender bids last week. A total of 10,100 tonnes (t) of scrap was awarded to two Vietnamese winners.
SteelMint’s assessment for bulk Japanese H2 scrap stood at $510-515/t CFR levels, up by $15/t w-o-w.
- Shagang Steel keeps scrap purchase prices stable: China’s Shagang Jiangsu Steel kept its purchase prices unchanged for yet another week, after raising prices on 7 Jan’21. The steel producer had hiked prices by RMB 100/t ($16/t) for all grades, effective 8 Jan’21. After the revision, prices of HMS (6-10mm) stood at RMB 3,690/t ($582/t) delivered to headquarters, including 13% VAT.
- Bangladeshi mills await fresh bulk scrap offers: Bangladesh-based mills are increasingly replenishing their scrap inventory as domestic steel market sentiments are improving slowly. The mills remained active in booking imported scrap in containers as there are hardly any firm offers for bulk scrap cargoes available currently.
SteelMint’s daily assessment for UK-origin shredded scrap in containers was recorded at $575/t CFR Chittagong, up by around $5-10/t on the week.
- Pakistan’s imported scrap prices edge down: Pakistan’s imported scrap trade has slowed down since last 2-3 days after having seen active bookings from the beginning of last week.
SteelMint’s daily assessment of UK/EU-origin shredded scrap stood at $548/t CFR Port Qasim, down by $4-5/t w-o-w.
- India’s imported scrap trade maintains trend: India’s imported scrap trade maintained its momentum as a few HMS deals were concluded recently. Hike in domestic steel prices is likely to keep scrap buyers active in booking imported scrap.
Fresh offers for UK/EU-origin shredded material in containers stand at $545/t CFR Nhava Sheva, up slightly by $3/t w-o-w.
.jpg)
Leave a Reply