Imported containerised ferrous scrap offers fell marginally in South Korea amid low demand. Mills slowed down bookings for US-origin containerised cargoes this week expecting prices to fall further driven by a decline in Turkey’s import prices. Prices fell to $242.9/mt cfr Turkey from $248.9/mt cfr on last Wednesday.
In the bulk market, 30,000mt US West Coast-origin #1 HMS was bought at $255/mt cfr Incheon last week. Mills bought Russian- origin A3 at $239/mt cfr Incheon for July shipments, up by $9 from last week. Japanese mills offered H2 at $239/mt cfr for July shipments, up by $5/mt.
The weekly Davis Index for containerised HMS 1&2 (80:20) settled at $225/mt cfr South Korea, down by $5/mt. The weekly Davis Index for containerised shredded settled at $236/mt cfr South Korea, down by $2/mt. A deal for shredded was heard at $235/mt cfr South Korea. Offers for HMS 1&2 (80:20) then fell to $225/mt cfr South Korea with no major trades.
The index for P&S settled at $243/mt cfr South Korea down by $2/mt and busheling at $254/mt cfr South Korea, down by $3/mt from the prior Wednesday. No trades were heard for both the grades.