Both demand and price of finished steel products have slightly rebounded since last week. As a result, some Turkish steel mills with lower scrap stocks have shifted their focus from billet to scrap, so the scrap price has been gradually rising. Turkish purchasing volume will consequently influence the price of scrap.
Turkish imports (CNF Turkey)
Scrap
A3
500x500x1500
| 20-Mar | 27-Mar | Change |
| 220-230 | 230-240 | 10 |
Change is on March 13th 2009 as compared to March 6th 2009
In USD per tonne
It is reported that steel scrap prices of European origin FOB Rotterdam improved by USD 5 per tonne last week after loosing USD 10 per tonne in the previous week.
| 20-Mar | 27-Mar | Change |
| 140-160 | 150-160 | 5 |
Change is on March 27th 2009 as compared to March 20th 2009 In USD per tonne
FOB Rotterdam
It is reported that Japan's scrap prices are enjoying a pick up recently as demand stable. As per report, Korea purchased Japanese H2 scrap price at around USD 240 per tonne CNF recently.
Korea has increased purchases of scrap, as H1 scrap was settled at about USD 232 per tonne CNF, while Hyundai Steel purchased H2 scrap from Japan at a price of USD 217 to USD 218 per tonne CNF in the last week.
Meanwhile, Taiwan's scrap import market seems to be quite quiet. Buyers are still adopting a wait and see attitude. The import price of container scrap was settled at USD 230 per tonne, but the new offer has increased to USD 235 per tonne. The main reason for the price rise is because Korea is increasing its buying in the market.
Indian domestic prices also firmed up a bit at important location like Mumbai and Mandi although downward trend was reported at Kolkata and Kanpur. Import offers also started to firm up a bit for both HMS and shredded.
Indian domestic
Melting scrap
80:20
HMS
| Location | Change | % |
| Chennai | 0 | 0.0% |
| Kandla | 0 | 0.0% |
| Mumbai | 300 | 1.9% |
| Mandi | 267 | 1.4% |
| Kolkata | -577 | -3.1% |
| Kanpur | -178 | -1.0% |
Change is on March 27th 2009 as compared to March 20th 2009
Change is in INR per tonne
However Chinese domestic scrap prices continued to go down during last week in line with slaide in the steel prices.
Chinese domestic
Scrap
6-8mm
Foundry
| Location | 20/Mar | 27/Mar | CNY | USD | % |
| Zhangjiagang | 2420 | 2360 | -60 | -9 | -2% |
| Loudi | 2450 | 2400 | -50 | -7 | -2% |
| Lingyuan | 2550 | 2500 | -50 | -7 | -2% |
| Beijing | 2500 | 2450 | -50 | -7 | -2% |
| Hefei | 2450 | 2400 | -50 | -7 | -2% |
| Jiangyin | 2400 | 2350 | -50 | -7 | -2% |
| Guangzhou | 2450 | 2400 | -50 | -7 | -2% |
| Chongqing | 2500 | 2450 | -50 | -7 | -2% |
| Wuhan | 2450 | 2350 | -100 | -15 | -4% |
| Anyang | 2450 | 2400 | -50 | -7 | -2% |
| Liupanshui | 2600 | 2500 | -100 | -15 | -4% |
| Lanzhou | 2100 | 2000 | -100 | -15 | -5% |
| Tianjin | 2450 | 2350 | -100 | -15 | -4% |
| Dalian | 2550 | 2450 | -100 | -15 | -4% |
| Benxi | 2500 | 2400 | -100 | -15 | -4% |
| Acheng | 2450 | 2400 | -50 | -7 | -2% |
Change is on March 27th 2009 as compared to March 20th 2009
In CNY per tonne inclusive of VAT
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(Sourced from www.steelprices-india.com)
