Import scrap prices in Asia follow global downtrend

Thursday, 05 September 2019 15:28:50 (GMT+3)   |   Istanbul

Scrap prices in Asia have slipped again this week, following the recent decline in Turkey and negative sentiments. Offers for ex-US HMS I/II 80:20 in containers have slipped by $5/mt over the past week tо $255-260/mt CFR, customers told SteelOrbis. At the same time, fresh bookings have been done close to $250/mt CFR, about $8/mt below last week’s transaction prices. “The market is gradually falling everywhere and it has not reached bottom yet,” a Taiwanese importer said.

South Korean customers have also been insisting on lower prices. Hyundai Steel has cut its bid for ex-Japan H2 scrap by JPY 1,000/mt ($9/mt) to JPY 26,000/mt ($245/mt) FOB and, according to a rumor in the market, a supplier is considering whether to accept this bid. 

$1 = JPY 106.1

Most Recent Related Articles

Japanese and US scrap exporters keep raising prices in deals to Taiwan, Vietnam

Tokyo Steel increases scrap purchase prices for three factories

Tokyo Steel hikes scrap price for Utsunomiya further, export outlook bullish

Uptrend in Turkey and firm demand push scrap prices up further in Taiwan

Ex-Japan scrap deal prices up, Tokyo Steel hikes scrap price for Utsunomiya