Imported ferrous scrap offers in East Asia were firm on Thursday. Demand, however, remained weak.
The weekly Davis Index for containerized #1 HMS, Shredded, P&S 5ft, and #1 busheling jumped by $7/mt to $461/mt, $474/mt, $481/mt, and $489/mt cfr Taiwan, respectively, on Thursday.
The weekly index for HMS 1 & 2 (80:20) was at $454/mt cfr Taiwan port, up by $6/mt.
Demand remains slow in the country.
The weekly Davis index for containerized #1 HMS, Thursday, was at $472/mt cfr Vietnam, up by $8/mt. The weekly indexes for shredded rose by $7/mt to $484/mt cfr, P&S 5ft by $8/mt to $492/mt cfr, and #1 bushelling by $8/mt to $500/mt cfr Vietnam port.
Offers for US-origin HMS 1&2 (80:20) went up from $457/mt to $474/mt cfr Vietnam, despite weak demand and a silent market.
The weekly Davis index for P&S 5ft fell by $4/mt to $516/mt cfr Indonesia port. Bids for P&S 5ft were at $506/mt.
The weekly Davis Index for shredded and #1 busheling settled down by $4/mt each at $511/mt and $526/mt cfr Indonesia port, respectively.
Billet import offers were heard at $675-680/mt cfr Jakarta from China and other SE suppliers.
Tokyo Steel increased its ferrous scrap purchase bids by JPY1,000-JPY2,000/mt ($9-$18/mt) del plant, depending upon the grade on Wednesday, effective June 24th, after keeping it unchanged since May 18. Bids for Busheling (Shindachi) were increased by JPY2,000/mt for deliveries to all mills except Kyushu.
After revision, busheling bids were at JYP55,500/mt ($500.83/mt) del Tahara works, JYP53,000/mt ($478.27/mt) del Okayama, JPY51,000/mt ($460.22/mt) del Utsunomiya, and JPY51,500/mt ($464.74/mt) del Takamatsu.
Revised bids for #2 HMS are at JPY51,000/mt ($460.22/mt) del Okayama, JPY49,000/mt ($442.18/mt) del Utsunomiya, and JPY49,500/mt ($446.69/mt) at Takamatsu, up by JPY1,000/mt.
Demand in Japan remains healthy supporting scrap prices.
($1= JPY110.82, TWD 27.98, VND23,016.87, IDR14,444.39)