The weekly index for #2 HMS, Wednesday, was flat at JPY50,000/mt ($452.48/mt) fob Japan and JPY49,000/mt ($443.43) fas Japan.
Japanese P&S 5ft (small bulk) settled at $565/mt cfr China port, up by $15/mt. In China, Japanese offers for the grade were heard at $590/mt cfr China.
In the small bulk market, Japanese #1 busheling (Shindachi) offers were at JPY62,500/mt fob. The weekly index for the grade jumped by JPY1,500/mt ($13.57/mt) to JPY61,500/mt ($556.56/mt) fob Japan while the index went up by JPY1000/mt ($9.05/mt) to JPY60,000/mt ($542.98/mt) fas Japan. The weekly Davis Index for shredded Wednesday was flat at JPY55,000/mt ($497.73/mt), and the index for HS was at JPY57,520/mt ($520.54/mt) fas Japan, also unchanged.
Offers for Japanese HMS 1&2 (50:50) were at $490-495/mt cfr Vietnam, with the index for the grade settling at $485/mt cfr Haiphong, up by $5/mt. Mills kept their bids at $485/mt cfr Vietnam.
The index for Japanese HMS 1&2 (50:50), Wednesday, settled at $475/mt, up by $5/mt cfr Taiwan.
A steelmaker reportedly purchased 9000mt Japanese H2 at JPY49,000/mt fob Japan. Trades for Japanese HS were heard at prices equivalent to JPY59,000/mt fob Japan, while that for shredded were heard at JPY58,000/ mt fob.
The weekly Davis Index for containerized HMS 1&2 (80:20), Wednesday, settled at $455/mt cfr South Korea, up by $8/mt. But mills were reluctant to accept prices above $465-470/mt cfr South Korea despite improvement in domestic demand.
The weekly Davis Index for P&S 5ft, Wednesday, rose by $8/mt to $482/mt cfr South Korea. The index for shredded also rose by $8/mt to $475/mt cfr South Korea.
The weekly Davis Index for HMS #1, Wednesday rose by $7/mt to $464/mt cfr South Korea.
The weekly Davis Index for containerized US-origin HMS 1&2 (80:20), Wednesday, settled at $459/mt cfr Taiwan, up by $4/mt. On Wednesday, most offers were at $465-470/mt cfr Taiwan. The weekly Davis index for HMS 1&2 (50:50) settled at $475/mt, up by $5/mt cfr Taiwan.
Freight rates and global steel demand continue to remain firm.
($1=JPY110.50, TWD27.89, KRW1128.32)