Southeast Asian markets slowed this week amid harsh weather conditions and rising COVID-19 infections.
The weekly Davis Index for #2 HMS, Wednesday, fell by JPY750/mt ($6.81/mt) to JPY47,750/mt ($433.71/mt) fob Japan and JPY46,750/mt ($424.62/mt) fas Japan.
The weekly Davis Index for Japanese P&S 5ft (small bulk) settled at $580/mt cfr China port, up by $20/mt. Japanese offer was heard at $600/mt cfr China port whereas mills targetted around $530-540/mt cfr China port.
In the small bulk market, offers for Japanese #1 busheling (shindachi) rose to JPY64,500/mt ($585.84/mt) fob, yet the weekly index for the grade dropped by JPY2,000/mt ($18.17/mt) each to JPY62,000/mt ($563.14/mt) fob Japan and JPY61,000 ($554.05) fas Japan.
The weekly Davis Index for shredded, Wednesday, dropped by JPY500/mt ($4.54/mt) to JPY56,500/mt ($513.18/mt), and the index for HS was flat at JPY59,000/mt ($535.89/mt) fas Japan.
Offers for Japanese HMS 1&2 (50:50) at $490-$500/mt cfr Vietnam, with the index for the grade settling at $490/mt cfr Haiphong, up by $5/mt. Mills kept their bids at $480-$485/mt cfr Vietnam.
The index for Japanese HMS 1&2 (50:50), Wednesday, settled flat at $475/mt cfr Taiwan.
A Korean steelmaker is heard to have purchased Japanese HS at JPY65,000/mt and shredded at JPY63,000 cfr. While Japanese H2 was sold to Korea at JPY48,000/mt fob Japan. Also, an Indian buyer bought Japanese H2 at JPY48,000/mt fob Japan.
A buyer from the Middle East is heard to have bought #1 busheling at JPY68,500/mt cfr.
Ocean freight charges from Japan to Korea is at JPY3,500/mt on Wednesday.
The weekly Davis Index for containerized HMS 1&2 (80:20), Wednesday, settled at $448/mt cfr South Korea, down by $7/mt.
The weekly Davis Index for P&S 5ft, Wednesday, dropped by $7/mt to $476/mt cfr South Korea. The index for shredded dropped to $468/mt cfr South Korea, down by $9/mt.
The weekly Davis Index for #1 HMS, Wednesday, dropped by $7/mt to $456/mt cfr South Korea. Suppliers from USWC are offering bulk #1 HMS at $515-$520/mt for late August shipments, but mills showed little interest.
The weekly Davis Index for containerized US-origin HMS 1&2 (80:20), Wednesday, settled at $454/mt cfr Taiwan, down by $6/mt. On Wednesday, most offers were at $465-475/mt cfr Taiwan. The weekly Davis index for HMS 1&2 (50:50) settled flat at $475/mt.
($1=JPY1153.85, TWD28.02, KRW1148.83)