Japan domestic

Tokyo steel kept its ferrous scrap purchase prices stable after cutting JPY500/mt ($4.54/mt) at Utsunomiya plant the prior day. Bids in the remaining steel plants remained unchanged. 

 

At Thursday’s Kanto tender four winning bids were awarded for a total of 20,000mt #2 HMS; 5,000mt each at JPY46,260/mt ($420/mt) fas Tokyo port, down JPY386/mt ($3.5/mt) than last month’s average. All bids were from Vietnamese buyer Ito Metals. Shipments would be delivered by Oct 31.

 

Bids were higher than the expectations of buyers, who anticipated a steep drop.

 

Bids for #2 HMS were at JPY47,000/mt del Utsunomiya, JPY48,000/mt del Tahara, JPY49,500/mt del Okayama and JPY48,000/mt del Kyushu. 

 

Taiwan

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 $3/mt each to settle at $458/mt and $488/mt cfr Taiwan, respectively. 

 

The index for shredded and P&S 5ft rose by $3/mt each to $475/mt and $480/mt cfr Taiwan, respectively. 

 

The weekly index for HMS 1&2 (80:20) settled at $447/mt cfr Taiwan port, up by $7/mt.

 

Vietnam

The weekly Davis index for containerized #1 HMS, Thursday, rose by $5/mt, to settle at $468/mt cfr Vietnam. The weekly index for shredded and P&S 5ft rose by $5/mt each to $485/mt and $490/mt cfr Vietnam, respectively.

 

The weekly index for #1 bushelling rose by $5/mt to $500/mt cfr Vietnam port. 

 

The weekly Davis Index of HMS 1&2 (80:20) settled at $460/mt cfr Vietnam, up by $5/mt from the prior week. 

 

Offers for HR steel was around $890-$900 cfr Vietnam.

 

Offers for debar steel was around $720 fob Vietnam.

 

Offers for billet was around $700-$715 cfr China.  

 

Offers for pig iron was around $555 cfr China.    

 

Indonesia

Domestic scrap prices were competitively priced against imported scrap. 

 

The weekly Davis index for P&S 5ft rose by $5/mt to $505/mt cfr Indonesia port. Bids for P&S 5ft were at $495-500/mt cfr Indonesia port.

 

The weekly Davis Index for shredded and #1 busheling rose by $5/mt each to settle at $500/mt and $517/mt cfr Indonesia, respectively. 

 

($1= JPY109.86, TWD 27.69, VND22,752.25, IDR14,245.15)

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