Ferrous scrap prices in Southeast Asian markets barring Indonesia improved. Markets in Indonesia continued to trend down amid the ongoing COVID-19 restrictions. 


Japan domestic

Tokyo steel has kept its ferrous scrap purchase prices unchanged since Aug 19. Bids for HMS #2 were at JPY48,500/mt ($442.12/mt) del Tahara, JPY50,000/mt del Okayama, JPY48,500/mt del Kyushu, JPY48,500/mt del Utsunomiya and JPY48,000 del Takamatsu.


For September deliveries, the steelmaker raised listed retail prices by JPY3,000/mt for a few flat products, keeping prices for rebar and other construction steel products unchanged from the prior month.


Posco bought limited quantities of Japanese origin HS or P&S 5ft equivalent at JPY62,500/mt cfr South Korea on Thursday.


Scrap demand was on a gradual recovery in Japan which could lead Tokyo Steel to revise prices. 


Japan is currently under a lockdown till Sep 12, enforced in Tokyo and other areas to curb the COVID-19 pandemic. 



Scrap prices recovered due to an increase in overseas offers though local steel sales did not witness a major improvement. 


The weekly Davis Index for containerized #1 HMS and #1 busheling rose by $5/mt each to settle at $450/mt and $480/mt cfr Taiwan. 


The index for shredded rose by $5/mt to $467/mt while the index for P&S 5ft rose by $2/mt to $472/mt cfr Taiwan. 


The weekly index for HMS 1&2 (80:20) settled at $440/mt cfr Taiwan port, up by $3/mt. 



The weekly Davis index for containerized #1 HMS, Thursday, rose by $5/mt, to settle at $456/mt cfr Vietnam. The weekly index for shredded rose by $5/mt to $473/mt while the index for P&S 5ft rose by $2/mt to $478/mt cfr Vietnam, respectively.


The weekly index for #1 bushelling rose by $5/mt to $488/mt cfr Vietnam port. 


The weekly Davis index of HMS 1&2 (80:20) settled at $448/mt cfr Vietnam, up by $5/mt from the prior week.



Indonesia remained under a lockdown to curb the spread of COVID-19 and prices dropped in a silent market. Domestic scrap prices are still competitive to imported scrap. 


The weekly Davis index for P&S 5ft dropped by $7/mt to $490/mt cfr Indonesia port. Bids for P&S 5ft were at $480-485/mt cfr Indonesia port. 


The weekly Davis Index for shredded dropped by $5/mt to settle at $485/mt while the index for #1 busheling dropped by $8/mt to $500/mt cfr Indonesia. 


($1= JPY110.08, TWD 27.95, VND22,787.00, IDR14,436.45)


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