US West coast export scrap market trends quiet as Asian markets seek direction

Wednesday, 17 May 2017 23:44:44 (GMT+3)   |   San Diego
       

US West coast export scrap target markets such as South Korea, Taiwan and Vietnam have been heard obtaining Japanese H2 scrap at lower prices than US origin scrap, although further buys at those prices are unlikely according to sources as H2 prices are increasing on domestic Japanese demand and tight supply. The unknown variable is the likelihood of mills in these markets to make large purchases from China instead of from Japan or the US. US HMS I/II 80:20 transactions tend to trade slightly below Japanese H2 transactions.

Low volume deals from the US West coast for containerized HMS I/II 80:20 have been heard at $235-240/mt CFR Taiwan with prevailing offers at $240-245/mt CFR Taiwan. According to a source, offers are limited in the market, but given the Taiwan reference point, offers are estimated at $245-250/mt CFR South Korea and $260-265/mt CFR Vietnam for containerized HMS I/II 80:20.

Offers on HMS I/II 80:20 bulk from the West coast are being heard at $260-270/mt CFR South Korea and CFR Taiwan while at $275-285/mt CFR to Vietnam.

Expectations for US domestic scrap pricing is providing some support to the US West coast export market. According to various sources close to SteelOrbis, the US domestic scrap market is expected to predominantly trend sideways in June. Although, some regions such as the South are being heard expecting possible increases.


Similar articles

Global View on Scrap: Turkish market stabilizes, Asia recovers a little

29 Mar | Scrap & Raw Materials

South Korean and Vietnamese steel mills focus on domestic scrap or long-term import sourcing

29 Mar | Scrap & Raw Materials

Taiwan’s import scrap market recovers slightly

29 Mar | Scrap & Raw Materials

Import scrap prices in Bangladesh mostly stable in new deals

29 Mar | Scrap & Raw Materials

Local Italian scrap market still sluggish, prices stable

29 Mar | Scrap & Raw Materials

Mexican domestic scrap prices

28 Mar | Scrap & Raw Materials

Carbon and stainless scrap prices in Taiwanese domestic market - week 13, 2024

28 Mar | Scrap & Raw Materials

Turkey’s deep sea scrap prices stabilize at $385-390/mt CFR

28 Mar | Scrap & Raw Materials

CISA: Coking coal purchase cost in China down 9.86% in Jan-Feb

28 Mar | Steel News

US scrap market still expecting sideways pricing in April

27 Mar | Scrap & Raw Materials