Far Eastern scrap importers insist on discounts, suppliers keep prices stable

摘要

The majority of the Far Eastern buyers are holding back on new scrap bookings this week. Mills are trying to achievebetter terms, referring to weak steel market fundamentals as well as cheaper Chinese finished material quotes. Exporters,in their turn, are mainly trying to stick to their stable pricing tactics.South Korean mills are little interested in Japanese scrap purchases. The nominal price level for HMS 2 stayed withinthe range of JPY 35,500?36,500/t ($314.6?323.4/t) FOB for Korean buyers, unchanged week on week, though in dollarequivalent the quotes decreased a bit on currency fluctuations. As Metal Expert reported, the most recent deal for thementioned grade of scrap was closed last week at JPY 37,500/t ($332.3/t) CFR South Korea. Importers are aiming toachieve some discounts in the near future due to a downward price trend in the Japanese domestic market.