Ferrous scrap prices in Southeast Asian markets were flat this week. COVID-19 cases continued to surge, keeping activity slow.
The weekly Davis Index for #2 HMS, Wednesday, settled unchanged at JPY47,750/mt ($434.22/mt) fob Japan and JPY46,750/mt ($425.13/mt) fas Japan. The grade was heard to be sold in South Korea at JPY47,500/mt ($431.95/mt) fob Japan, down by JPY500/mt ($4.55/mt). The Korean mill’s next target price is heard at below JPY47,000/mt fob Japan levels.
Japanese H2 offers were heard in the range of $480-$485/mt cfr Vietnam but bids were at $470-$475/mt cfr Vietnam.
The weekly Davis Index for Japanese P&S 5ft (small bulk) settled at $580/mt cfr China port, up by $20/mt.
The weekly index for the #1 busheling (Shindachi) rose by JPY250/mt ($2.27/mt) to JPY62,250/mt ($565.97/mt) fob Japan and JPY61,250 ($556.88/mt) fas Japan.
The weekly Davis Index for shredded, Wednesday, settled flat at JPY56,500/mt ($513.69/mt), and the index for HS was up by JPY750/mt ($6.82/mt) to JPY59,750/mt ($543.24/mt) fas Japan.
Offers for Japanese HMS 1&2 (50:50) were at $485-$495/mt cfr Vietnam, with the index for the grade settling at $483/mt cfr Haiphong, down by $7/mt. Mills kept their bids at $480-$485/mt cfr Vietnam.
The index for Japanese HMS 1&2 (50:50), Wednesday, settled at $468/mt, down by $7/mt cfr Taiwan.
The weekly Davis Index for containerized HMS 1&2 (80:20), Wednesday, settled at $442/mt cfr South Korea, down by $6/mt.
The weekly Davis Index for P&S 5ft, Wednesday, dropped by $4/mt to $472/mt cfr South Korea. The index for shredded dropped to $465/mt cfr South Korea, down by $3/mt.
The weekly Davis Index for #1 HMS, Wednesday, dropped by $6/mt to $450/mt cfr South Korea.
The weekly Davis Index for containerized US-origin HMS 1&2 (80:20), Wednesday, settled at $445/mt cfr Taiwan, down by $9/mt. On Wednesday, most offers were at $450-460/mt cfr Taiwan. The weekly Davis index for HMS 1&2 (50:50) settled flat at $468/mt, down by $7/mt.
($1=JPY109.97, TWD28, KRW1154.43)