Tokyo steel cut its ferrous scrap purchase prices by JPY500/mt ($4.54/mt) at Utsunomiya plant, effective Sep 3. Bids at rest of the steel plants remain unchanged.
Revised bids for #1 busheling at JPY49,500/mt, #1 HMS at JPY49,500/mt, #2 HMS at JPY47,500/mt, shredded at JPY48,000/mt, and HS equivalent to P&S 5ft at JPY49,500/mt del Utsunomiya.
HMS #2 bids at JPY48,500/mt ($442.12/mt) del Tahara, JPY50,000/mt del Okayama, JPY48,500/mt del Kyushu, and JPY48,000 del Takamatsu.
Japan is currently under a lockdown until Sep 12, with emergency measure imposed in Tokyo and other areas to curb the spread of the COVID-19 pandemic.
Ferrous scrap prices improved due to increasing freight costs and shortage of containers.
The weekly Davis Index for containerized #1 HMS and #1 busheling rose by $5/mt each to settle at $455/mt and $485/mt cfr Taiwan.
The index for shredded and P&S 5ft rose by $5/mt each to $472/mt and $477/mt cfr Taiwan, respectively.
The weekly index for HMS 1&2 (80:20) settled at $447/mt cfr Taiwan port, up by $7/mt.
The weekly Davis index for containerized #1 HMS, Thursday, rose by $7/mt, to settle at $463/mt cfr Vietnam. The weekly index for shredded and P&S 5ft rose by $7/mt to $480/mt and $485/mt cfr Vietnam, respectively.
The weekly index for #1 bushelling rose by $7/mt to $495/mt cfr Vietnam port.
The weekly Davis index of HMS 1&2 (80:20) settled at $455/mt cfr Vietnam, up by $7/mt from the prior week. Few deals heard.
The country is still fighting the pandemic, specifically in the southern region, where Ho Chi Minh city is located. The government is attempting to curb the spreading of COVID-19 by imposing partial lockdown and restrictions.
Indonesia’s lockdown to curb the spread of COVID-19 has been eased in certain areas of Java and Bali, Greater Jakarta, Bandung, and Surabaya. Domestic scrap prices are still competitively priced against imported scrap.
The weekly Davis index for P&S 5ft rose by $10/mt to $500/mt cfr Indonesia port. Bids for P&S 5ft were at $490-495/mt cfr Indonesia port.
The weekly Davis Index for shredded rose by $10/mt to settle at $495/mt while the index for #1 busheling jumped by $12/mt to $512/mt cfr Indonesia.
($1= JPY110.00, TWD 27.69, VND22,697.71, IDR14,245.20)