Japan's largest electric steelmaker Tokyo Steel Mfg Co has increased what the company pays for locally available ferrous scrap by a uniform JPY 1,000 per tonne for all grades at its Okayama, Kyushu, Takamatsu and Utsunomiya works last week.
This reflects firmness in SEA market of steel scrap.
However, the market players in Turkey remained away from transactions indicating a lull. The similar sentiment was reflects in other important markets.
Indian domestic scarp prices did not support the offers for imports.
On the other hand, prices for scrap have decreased in the domestic Italian market. Most local producers have replenished their stocks and reduced the amount of purchases, which is forcing suppliers to cut prices. Besides, uncertainty about further developments of the finished product market does not allow steelmakers to buy large lots of the raw material.
In particular, prices for shredded scrap from local traders have dropped by USD 15 per tonne to USD 20 per tonne to USD 285 per tonne to USD 295 per tonne delivered, taking into account currency fluctuations. Suppliers from France and Germany have also reduced their prices, offering the material at USD 290 per tonne to USD 295 per tonne against USD 305 per tonne to USD 315 per tonne a week earlier.
Nominal prices for shipments of scrap from the USA are at USD 325 per tonne to USD 330 per tonne CNF unchanged from a week ago, but market participants say demand for import material stays virtually non existent. Traders agree that Italian steelmakers will continue to buy scrap in the domestic market, putting pressure on suppliers in order to cause further decline of quotations.
1. Turkey - Stagnant
| Change |
| 0 |
Change is on September 25th as compared to September 18th 2009
In USD per tonne
2. China - Scrap prices stagnant
Scrap
6-8mm
| Location | CNY | USD |
| Acheng | 0 | 0 |
| Anyang | 0 | 0 |
| Beijing | -50 | -7 |
| Benxi | 0 | 0 |
| Chongqing | 0 | 0 |
| Dalian | 0 | 0 |
| Guangzhou | 0 | 0 |
| Hefei | 0 | 0 |
| Jiangyin | 0 | 0 |
| Jinan | 0 | 0 |
| Kunming | 0 | 0 |
| Laiwu | 0 | 0 |
| Lanzhou | 0 | 0 |
| Lingyuan | 50 | 7. |
| Liupanshui | 0 | 0 |
| Loudi | 0 | 0 |
| Tangshan | 0 | 0 |
| Tianjin | 0 | 0 |
| Tonghua | 0 | 0 |
| Wuhan | 0 | 0 |
| Wuyang | 0 | 0 |
| Zhangjiagang | 0 | 0 |
Change is on September 25th as compared to September 18th 2009
3. India - Scrap prices continue to go up
Melting scrap
80:20
HMS
| Location | Change |
| Chennai | 0 |
| Kandla | 178 |
| Mumbai | -400 |
| Mandi | 1043 |
| Kolkata | 554 |
| Kanpur | 89 |
| Rudrapur | 178 |
| Hyderabad | 185 |
Change is on September 25th as compared to September 18th 2009
Change is in INR per tonne
4. Rotterdam - Stagnant
| Change |
| 0 |
Change is on September 4th 2009 as compared to August 28th 2009
In EUR per tonne
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(Sourced from www.steelprices-europe.com)
