Ferrous scrap prices in East Asia declined on weak demand, unfavourable climate, seasonality, and the re-emergence of COVID-19.
The weekly Davis Index for #2 HMS, Wednesday, fell JPY1250/mt ($11.29/mt) to JPY46,000/mt ($415.42/mt) fob Japan and JPY45,000/mt ($406.39/mt) fas Japan.
The weekly Davis Index for Japanese P&S 5ft (small bulk) settled at $560/mt cfr China port, down by $10/mt.
The weekly index for the #1 busheling (shindachi) settled at JPY64,000/mt (577.98/mt) fob Japan, up by JPY1750/mt and JPY62,000 ($559.92/mt) fas Japan, up by JPY750/mt.
The weekly Davis Index for shredded rose by JPY3,000/mt ($27.09) to JPY54,000/mt ($487.67/mt), and the index for HS was up by JPY2,750/mt ($24.84/mt) at JPY59,750/mt ($539.60/mt) fas Japan.
Offers for Japanese HMS 1&2 (50:50) were heard at $490/mt cfr Vietnam, with the index for the grade settling at $480/mt cfr Haiphong, down by $5/mt. Mills kept their bids at $470/mt cfr Vietnam.
The index for Japanese HMS 1&2 (50:50) settled at $465/mt, down by $8/mt cfr Taiwan. Offer for the grade were at $465/mt while bids were at $455/mt cfr Taiwan.
The weekly Davis Index for containerized HMS 1&2 (80:20), Wednesday, settled at $424/mt cfr South Korea, down by $6/mt.
The weekly Davis Index for P&S 5ft and shredded dropped by $6/mt each to $454/mt and $447/mt cfr South Korea.
The weekly Davis Index for #1 HMS fell by $6/mt to $432/mt cfr South Korea in a silent market.
The weekly Davis Index for containerized US-origin HMS 1&2 (80:20) settled at $427/mt cfr Taiwan, down $5/mt. Most offers were at $435-440/mt cfr Taiwan. The weekly Davis index for HMS 1&2 (50:50) fell $8/mt to $465/mt cfr Taiwan.
($1=JPY110.73, TWD27.85, KRW1142.21)