According to Mining News Pro - Tokyo Steel continued lowering scrap purchase prices amid weakening Japanese domestic sentiments further. South Korean Hyundai Steel lowered bids for Japanese scrap marginally. Chinese Shagang Steel increased scrap prices on rising finish steel demand. Indian scrap trades remained less ahead of elections while Pakistan and Bangladesh observed containerized trades at lower prices on supportive domestic sentiments.

Turkey imported scrap prices fall further USD 6-7/MT on W-o-W - Turkey based steel mills booked limited trades on subdued finish steel demand. According to SteelMint’s price assessment, US origin HMS (80:20) scrap moves down to USD 306-308/MT, CFR Turkey. In a recent deal confirmed, Marmara based steelmaker booked HMS 1&2 (80:20) at USD 305/MT, CFR. US supplier sold HMS 1&2 (80:20) at USD 308/MT and Shredded at USD 314/MT, CFR Turkey.

Japan`s Kanto monthly ferrous scrap export tender fetched bid lower USD 15 - Total 10,100 MT of H2 scrap auctioned in Kanto Tender for Apr’19 concluded on 10th Apr at an average of JPY 32,300/MT (USD 291), FAS in Apr’19. On monthly premises, average bid recorded in Apr’19 has moved down sharply by JPY 1,710/MT (USD 15) against the average bid at JPY 34,010/MT (USD 306), FAS in Mar’19. Lowering of average bids put Asian scrap prices under pressure further. Japanese H2 scrap market purchase prices stand at JPY 31,000-32,000/MT (USD 277-286) in the Kanto region while in Gulf region at around JPY 31,000-31,500/MT.

Japan’s Tokyo Steel continues lowering scrap purchase price - Japan’s leading EAF steel mini-mill, Tokyo Steel lowered domestic scrap purchase price on 11th and 13th April by total JPY 1000/MT at Utsunomiya works. The company pays JPY 32,500/MT (USD 292) for H2 scrap delivered to Utsunomiya plant in Kanto region while JPY 33,000/MT at Tahara in the central area and Kyushu in western Japan. Participants anticipate that Japanese scrap prices may continue downtrend however restocking ahead Golden Week holidays may give prices some support.

South Korean Hyundai Steel cuts bid for Japanese scrap by JPY 500/MT - South Korean leading steelmaker Hyundai Steel lowered open bids for Japanese scrap by JPY 500/MT against last week. It presented bids for H2 at JPY 32,500/MT (USD 291) FoB Japan. According to SteelDaily`s reports, it is estimated that about 100,000 MT of scrap was offered to Hyundai Steel this week. The company maintains a downward trend for Japanese scrap by lowering prices marginally this week.

China’s Shagang steel increases scrap purchase price by USD 12/MT - Eastern China’s largest private ferrous scrap consumer - Shagang Jiangsu Steel group increased steel scrap purchase prices on 11th April for all grades by RMB 80/MT (USD 12) to RMB 2,620/MT (USD 390) inclusive of VAT for HMS (6-10 mm thickness) delivered to headquarter works situated in Zhangjiagang. Shagang is selling HRB400 16-25 mm dia rebar at RMB 4,200/MT (USD 625) over the mid-April period, up RMB 150/MT against the last set of prices for end-Mar’19 shipments.

Vietnam imported scrap prices almost stable - According to sources report, Southern Vietnamese steel mills booked Japanese bulk H2 scrap at around USD 325-330/MT, CFR. Hong Kong origin bulk H1&2 (50:50) was being offered stable in the range USD 335-340/MT, CFR.

India imported scrap trades slow on ongoing elections - Indian imported scrap market continued observing less trades amid ongoing election activities in the country, cheaper substitutes and an outlook of monsoon to start immediately after elections. Limited trades in containers reported this week at lowered levels against last week. SteelMint’s assessment for containerized Shredded from UK, Europe and US stands in the range USD 330-335/MT, CFR Nhava Sheva. Trades for HMS 1 from Dubai reported in the range of USD 327-335/MT, CFR depending on quality. West African HMS 1&2 traded in 20-21 MT containers at around USD 313-315/MT, CFR Goa and around USD 310-313/MT, CFR Chennai. Central American HMS 1&2 (80:20) scrap sold at USD 322-325/MT, CFR Mundra and Ludhiana.

Pakistan domestic scrap prices increase on supply shortage - Pakistan scrap importers booked imported scrap at further declined prices this week. Local steel prices edge up further, however, demand remains average in the market. Shortage of ship plates and local scrap increases steelmakers’ dependency on imported scrap. Local scrap equivalent to Shredded is being reported at PKR 62,500-63,000/MT (USD 441-445), ex-works inclusive of taxes, up sharply by PKR 2,000/MT (USD 14) on W-o-W basis. Shredded from UK/Europe sold at USD 330-333/MT, CFR Qasim, down USD 5/MT from USD 333-336/MT level against last week’s report. Middle East origin HMS 1 heard in the range of USD 325-328/MT, CFR depending on quality.

Bangladesh imported scrap trades limited; local steel prices improve - Buying interest for Shredded scrap stands in the range of USD 340-345/MT, CFR Chittagong. A trade source reported that Shredded sold at USD 350/MT, CFR from Canada and Europe last week. Bulk offers for HMS 1&2 from Europe and UK were being reported at USD 335-340/MT and Containerized HMS 1 from Chile and Brazil is being reported at around USD 335-340/MT, CFR. Local HMS scrap prices assessed stable at BDT 36,500/MT, ex-yard.