New Moves Scarce in East Asian Scrap Import Market

摘要

New moves are scarce so far in the ferrous scrap import market of East Asia where lunar New Year holidays areover, with a wait-and-see atmosphere predominating there. There are repercussions of prices holding weak in new dealson ferrous scrap exports out the USA to Turkey. In January, South Korea’s Hyundai Steel Co negotiated its purchase of US ferrous scrap in a large shipload ataround US$188/MT C&F for No1 HMS, the company’s new procurement of US ferrous scrap for the first time in a halfyear. Then, Dongkuk Steel Mill Co secured US ferrous scrap anew at around US$185.50/MT C&F for No1 HMS. As aresult, the negotiated prices stood in the range of US$185-188/MT C&F for No1 HMS before the lunar New Yearholidays as to ferrous scrap imports into South Korea for deepsea bulk cargoes.