Japan - Mills paying higher prices
Purchase price of steel scarp by Japanese steel mills strengthened last week as the winning bid in Japan’s H2 scrap export auction, held by the Kanto Tetsugen was JPY 1,600 per tonne higher than the price at the same auction last month. This sets a positive trend in scarp buying
SEA - Leading the charge
It is reported that South Korean mills are willing to pay higher prices for scrap as reflected by their buying last week.
Turkey - Major surge seen
Turkish steel mills, which had abstained from buying for some time, started to buy albeit at much higher prices
| Change |
| 5% |
China - Speculation ends
There was hardly any buying by Chinese steel mills last week putting the news of surge in scrap prices to rest.
Scrap
6-8mm
| Location | CNY | USD |
| Acheng | 0 | 0 |
| Anyang | 0 | 0 |
| Beijing | 0 | 0 |
| Benxi | 0 | 0 |
| Chongqing | 0 | 0 |
| Dalian | 0 | 0 |
| Guangzhou | -30 | -4 |
| Hefei | 0 | 0 |
| Jiangyin | -50 | -7 |
| Jinan | 0 | 0 |
| Kunming | 0 | 0 |
| Laiwu | 0 | 0 |
| Lanzhou | 0 | 0 |
| Lingyuan | 0 | 0 |
| Liupanshui | 50 | |
| Loudi | 0 | 0 |
| Tangshan | 0 | 0 |
| Tianjin | 0 | 0 |
| Tonghua | 0 | 0 |
| Wuhan | 0 | 0 |
| Wuyang | 0 | 0 |
| Zhangjiagang | -40 | -6 |
Change is on December 11th as compared to December 4th 2009
India - Buyers retuning at higher levels
Indian scrap market suddenly regained vigor last week as price sof sponge iron zoomed.
Melting scrap
80:20
HMS
| Location | % |
| Chennai | 3% |
| Hyderabad | 5% |
| Kandla | 2% |
| Kanpur | 5% |
| Kolkata | 3% |
| Mandi | 6% |
| Mumbai | 3% |
| Rudrapur | 3% |
Change is on December 11th as compared to December 4th 2009
Change is in INR per tonne
Indian buyers are reported to be comfortable at USD 330 CNF levels for shredded scrap as against offers of USD 345 CNF.
Rotterdam - In line with global levels
Some of the main Italian special steel producers have increased the production, with a consequent pressure on scrap purchases and prices. The conjunction of low stock levels and a structural deficit of stock areas, is determining an increase of scrap prices in Italy where following levels have been reached during end of the last week and beginning of the current one.
The export prices fro Europe have also surged last week with limited availability.
| Change |
| 3% |
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(Sourced from www.steelprices-europe.com)
