Global Ferrous Scrap Market Overview - Week 52, 2019
...
Global ferrous scrap market observed an upward trend for most of the major markets this week. Turkey witnessed a booking at further increased prices while offers to south Asian markets too moved up. Bangladesh witnessed a Bulk cargo booking from the USA and India saw trades for imported HMS improve on positivity in the finished steel market. Japan's Tokyo Steel and China's Shagang Steel kept their scrap purchase bids unchanged.
Turkey - After a gap of over a week, a solitary booking for imported scrap was witnessed by a Turkish mill at slightly increased prices, even as most mills have closed down for winter vacations, and most mills too have already restocked actively for Jan'20 shipments.
In the latest deal, a scrapyard from the baltic region sold a bulk vessel to a Mediterranean region based steelmaker, comprising of HMS 1&2 (80:20) at USD 303/MT, CFR, shredded at USD 308/MT CFR, and bonus at USD 313 /MT, CFR Turkey, with shipment expected for Feb'20.
The assessment for US-origin HMS (80:20) stands at around USD 305/MT, CFR Turkey, up by USD 3-4/MT, against last week.
India - Imported scrap trades to India showed improvement this week, as market observed several container bookings for HMS scrap in spite of the continued rise in global offers due to recent positive trend in billet sales and prices, while the market expects further improvement in buying from next month onwards.
SteelMint assessment for containerized Shredded from the USA and UK to India rose sharply to around USD 315/MT, CFR Nhava Sheva, up by USD 5-6/MT against last week, with just a few small quantity bookings reported. No shredded offers from North European yards were received due to holidays, some yards in Europe refrained from offering to India on good business from their domestic buyers.
South African origin HMS was sold at USD 300/MT CFR Nhava Sheva and Mundra with fresh offers now reached USD 305-308/MT CFR. HMS 1 super (no ci gi) was booked at USD 300/MT CFR Nhava Sheva with average trades, while offers now in USD 300-305/MT CFR range. HMS 1&2 of good quality from South American origins was sold at USD 295/MT CFR, however, fresh offers are now close to USD 300/MT. West African origin HMS 1&2 was at around USD 290/MT in latter half this week.
Bangladesh - Imported scrap market to Bangladesh remained slow for container trades, with few bookings for HMS scrap being reported this week.
A Chittagong based major mill has booked USA origin shredded bulk cargo at USD 325/MT, CFR Chittagong. The cargo shipment is expected to be in Feb'20.
Assessment for containerized shredded scrap stood in the range of USD 322-325/MT, CFR Chittagong up by USD 5/MT in comparison to last week. Few transactions for HMS 1&2 from Central America were concluded at USD 295/MT while fresh offers for HMS 1&2 (80:20) presently stand at USD 300/MT CFR, while HMS 1
Ship yard melting scrap currently being offered at around BDT 29000-29500/MT (USD 343-348) ex Chittagong, while Ship plate (12 mm) prices remained at around BDT 38000/MT (USD 448) ex Chittagong.
Pakistan - Imported scrap offers to Pakistan moved up slightly this week while buying activity stood slow in the peak winter season by up to USD 5/MT W-o-W.
SteelMint's assessment for containerized shredded 211 scraps from UK/Europe marginally increased around USD 312-315/MT, CFR Qasim, up by around USD 5/MT against last week, with limited deals being concluded at the price levels, as inquiries from buyers remained slow.
UAE origin HMS 1 offers stood stable earlier in the week with few deals being closed at USD 285-290/MT, however, offers climbed up sharply to USD 300-305/MT CFR by the closing of the week.
South Korea - Russian scrap offers to South Korea increased significantly this week, up by USD 15-20/MT as against last week, although no fresh deals have been concluded at these levels as yet.
A3 grade scrap offers from Russia has moved up to USD 300-305/MT. However, bids from South Korean steelmakers are at around USD 290/MT, CFR level for A3 grade Russian scrap.
