Japan

The weekly index for #2 HMS, Wednesday, fell by JPY500/mt ($4.53/mt) to JPY48,500/mt ($438.98/mt) fob Japan and JPY47,500/mt ($429.92/mt) fas Japan.

 

Japanese P&S 5ft (small bulk) settled flat at $560/mt cfr China port. Markets were largely silent. Domestic prices are stable despite an uptick in steel prices in China.    

 

In the small bulk market, offers for Japanese #1 busheling (Shindachi) rose to JPY65,000/mt ($588.32/mt) fob amid a short supply of high grades. The weekly index for the grade rose by JPY3,500/mt ($31.68/mt) to JPY64,000/mt ($579.27/mt) fob Japan while the index rose by JPY4,000/mt ($36.20/mt) to JPY63,000 ($570.22) fas Japan. 

 

The weekly Davis Index for shredded, Wednesday, rose by JPY3,000/mt ($27.15/mt) to JPY57,000/mt ($515.91/mt), and the index for HS was at JPY59,000/mt ($534.01/mt) fas Japan, up by JPY2,750/mt ($24.89/mt).  

 

Offers for Japanese HMS 1&2 (50:50) at $490-$495/mt cfr Vietnam, with the index for the grade settling at $485/mt cfr Haiphong, down $5/mt. Mills kept their bids at $480/mt cfr Vietnam. 

 

The index for Japanese HMS 1&2 (50:50), Wednesday, settled at $475/mt, down by $5/mt cfr Taiwan.

 

Japanese sellers are waiting for firm bids from Korean mills. 

 

South Korea

The weekly Davis Index for containerized HMS 1&2 (80:20), Wednesday, settled at $455/mt cfr South Korea, down $2/mt. The market is mostly quiet.

 

The weekly Davis Index for P&S 5ft, Wednesday, dropped by $1/mt to $483/mt cfr South Korea. The index for shredded is flat at $477/mt cfr South Korea. 

 

The weekly Davis Index for HMS #1, Wednesday, dropped by $2/mt to $463/mt cfr South Korea.

 

Suppliers are offering $515-$520/mt for USWC bulk for late August shipments, but mills showed little interest.

 

Taiwan

The weekly Davis Index for containerized US-origin HMS 1&2 (80:20), Wednesday, settled at $460/mt cfr Taiwan, down by $2/mt. On Wednesday, most offers were at $475-480/mt cfr Taiwan. The weekly Davis index for HMS 1&2 (50:50) settled at $475/mt, down by $5/mt cfr Taiwan.  

 

 ($1=JPY110.48, TWD27.97, KRW1148.83)

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