East Asian Scrap Import Market on Track to Bottom Out?

摘要

Speculation is afloat that the ferrous scrap import market in East Asia may be on track to bottom out in the nearfuture. In this connection, there are strong expectations for the domestic ferrous scrap market to advance in the USA inJanuary, leading to a recovery of prices in new deals for US ferrous scrap exports. Last year, the US composite price ofNo1 HMS rose to a high of US$253.83/LT in June, but it took a nosedive by nearly US$110/LT in five months toUS$143.50/LT in November. In December, the composite price slightly rebounded for the first time in six months, but itsupswing stood at US$6.67 as compared with the previous month.