Imported ferrous scrap offers in East Asia were firm on Thursday. Demand, however, remained weak.
The weekly Davis Index for containerized #1 HMS and shredded registered an uptick of $6/mt each to $467/mt and $480/mt cfr Taiwan on Thursday. The indexes for P&S 5ft and #1 busheling rose by $5/mt each to $486/mt and $494/mt cfr Taiwan.
The weekly index for HMS 1&2 (80:20) was at $460/mt cfr Taiwan port, up by $6/mt. Demand remains slow in the country.
The weekly Davis index for containerized #1 HMS, Thursday, was at $477/mt cfr Vietnam, up by $5/mt. The weekly indexes for shredded and P&S 5ft rose by $5/mt to $489/mt cfr Vietnam and $497/mt cfr Vietnam, respectively. The weekly index for #1 bushelling rose by $6/mt to $506/mt cfr Vietnam port.
The weekly Davis index of HMS 1&2 (80:20) was at $469/mt cfr Vietnam, up by $5/mt.
The weekly Davis index for P&S 5ft went up by $9/mt to $525/mt cfr Indonesia port. Bids for P&S 5ft were at $510-515/mt.
The weekly Davis Index for shredded and #1 busheling rose by $9/mt each to $520/mt and $535/mt cfr Indonesia port, respectively.
Indonesia has tightened social distancing measures amid the virus surge from July 3-20.
Tokyo Steel kept its ferrous scrap purchase prices unchanged on Thursday.
Bids for #2 HMS remain at JPY51,000/mt ($460.22/mt) del Okayama, JPY49,000/mt ($442.18/mt) del Utsunomiya, and JPY49,500/mt ($446.69/mt) at Takamatsu. Demand for ferrous scrap in Japan remains healthy, supporting prices.
($1= JPY111.40, TWD 27.92, VND23,102.05, IDR14,537.55)