Other Elements and Materials

Global Ferrous Scrap Market Overview - Week 36, 2018

Global Ferrous Scrap Market Overview - Week 36, 2018
Mining News Pro - This week observed increase in Turkish imported scrap prices with several deep sea cargoes getting booked. This pushed up prices in other markets like India, Pakistan and Bangladesh. However Japanese scrap prices softened and South Korea`s Hyundai Steel continued with individual negotiations rather than placing bids. Shagang Steel scrap purchase prices remained unaltered.
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According to Mining News Pro -This week observed increase in Turkish imported scrap prices with several deep sea cargoes getting booked. This pushed up prices in other markets like India, Pakistan and Bangladesh. However Japanese scrap prices softened and South Korea`s Hyundai Steel continued with individual negotiations rather than placing bids. Shagang Steel scrap purchase prices remained unaltered.

Turkish mills actively book scrap cargoes for October - Turkish mills booked nearly 9-10 deep sea cargoes this week amid restocking needs pushing up the prices. In a recent deal reported, a leading scrap supplier - Stena supplied 33,000 MT scrap comprising of HMS 80:20, Shredded and Bonus scrap for October shipment.

US origin HMS (80:20) assessment is around USD 320-322/MT, CFR Turkey, up by USD 10-15/MT, W-o-W.

Japan’s Tokyo Steel cuts scrap purchase price at Utsunomiya works - Japan’s leading EAF steel mini-mill - Tokyo Steel announced price cut of JPY 500/MT (USD 5) at its Utsunomiya plant against last set of prices. However, prices remain unchanged at other four plants. Tokyo Steel fetches H2 scrap at JPY 37,000/MT (USD 333) for its Kanto region based works i.e. Utsunomiya and at JPY 36,500/MT for largest works in central Japan-Tahara. Bids for the same grade is at JPY 36,500/MT levels at Kyushu plant and JPY 35,500/MT at Okayama works in Western Japan while for its Takamatsu steel center company kept bids at JPY 35,000/MT in Southern Japan.

Market awaits monthly Kanto Tetsugen tender results which is scheduled on 11 Sept’18 to bring clarity to Japanese scrap prices.

Hyundai Steel continued with individual negotiations for Japanese scrap - South Korean major EAF mills reported increased inventories of steel scrap. Hyundai Steel has changed the purchase pattern for scrap from bids to individual negotiations and is learned to be purchasing high grade scrap.

Indian scrap importers turn cautious over currency depreciation - The price assessment from UK and Europe based containerized Shredded stands at USD 360/MT, CFR Nhava Sheva which has increased by USD 10/MT W-o-W as against the report of USD 345-350/MT last week. Amid supply tightness very few offers for USA origin containerized Shredded are even being quoted at USD 365-370/MT, CFR.

According to sources, few trades for HMS 1 from Dubai and South Africa sold at USD 350/MT, CFR. While offers for HMS 1&2 (80:20) heard at USD 345-350/MT from UAE and UK. Although demand remained strong amid increased steel prices but Indian importers turned cautious on booking material amid sharp currency devaluation of 72.1 against USD.

Pakistan buyers return to market after Eid holidays - This week Pakistan based trade participants highlighted resumption of activities this week after pause observed due to Eid festive holidays in last two weeks. Offers for Shredded scrap in containers were learned around USD 355/MT, CFR Qasim from Europe and UK. While few offers from USA based recyclers are quoted in the range of USD 357-360/MT, CFR Qasim.

Bangladesh imported scrap market observes thin trades - South Africa origin P&S scrap sold at USD 365-366/MT, CFR and P&S offers are being quoted mostly stable at around USD 365-370/MT, CFR Chittagong. Shredded 211 scrap in containers from UK & Europe is being offered at around of USD 370-375/MT, CFR Chittagong. However, bidding from buyers still stands at around USD 365/MT, CFR. HMS 1 offers assessed at around USD 362-365/MT, CFR levels from UAE and South Africa.


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