Some scrap price increases have been confirmed in new deals from the US and Japan to South Korea, following a long break in activity, SteelOrbis has learned on Wednesday, November 27.
About 30,000 mt of HMS I, traded by a US-based supplier, have been sold at $275/mt CFR to Hyundai Steel, according to a number of sources. There were no deals with US scrap suppliers earlier in November, but nominal prices were not higher than $270/mt CFR before this deal was done.
In the fresh deal to South Korea disclosed this week, about 30,000 mt of ex-Japan H2 scrap changed hands at JPY 25,000/mt ($229/mt) FOB last week, up JPY 1,000/mt ($9/mt) from previous bookings. This level corresponds to $250-255/mt CFR South Korea.
Following the latest bookings, offer prices for ex-Japan H2 have started to come to Vietnam at $270/mt CFR at the lowest (against $265-270/mt CFR last week. Import offers for HMS I/II to Vietnam have increased by $5/mt to $285/mt CFR.