A sense of cautious anticipation continues to define the global scrap market landscape. In the Asian market in particular, weak finished steel demand combined with the upcoming Eid holiday has led to a noticeable slowdown in imported scrap purchases. Meanwhile, prices for scrap materials originating from the US, Brazil, Mexico, and the UK remain broadly stable.
In the US domestic market, supply and demand appear relatively balanced. However, on the export front, buyers are pressing for lower prices, increasing competitive pressure. Scrap prices in North America have remained within a narrow range this week. HMS 1&2 80:20 was steady at $330/ton delivered to both the Midwest and South America. Shredded scrap was also reported at $380/ton in both regions, while busheling scrap maintained its level at $425/ton.
For the Asian market, US-origin HMS 80:20 offers were in the range of $340–345/ton CFR Vietnam, while buyers responded with counteroffers at $330–335/ton, signaling expectations for price softening on the demand side.
Export container prices for Brazilian scrap from São Paulo remained stable this week, with HMS 1&2 quoted at $255/ton FOB and shredded scrap at $275/ton FOB. In Latin America, shipments to the Far East continue at a low but steady pace. In Mexico’s northeast region, domestic scrap prices held at $335/ton FOT for HMS 1 and $330/ton FOT for busheling.
UK-origin shredded scrap prices in Asia remained at the following levels; $365/ton CFR Nhava Sheva (India), $377/ton CFR Chattogram (Bangladesh), $380/ton CFR Port Qasim (Pakistan).
For Japanese H2 scrap destined for Southeast Asia, offer prices were quoted in the $325–330/ton CFR Vietnam range, with Vietnamese buyers responding at around $318/ton. Japanese suppliers appear reluctant to cut export prices aggressively, citing early signs of recovery in their domestic market.
As the Eid holiday approaches, sluggish finished product demand continues to weigh on imported scrap purchases and apply downward pressure on prices. Mills remain cautious. Although loading activity persists at a certain level, current price points are nearing margin thresholds for exporters. The market’s next directional move will likely hinge on how buyers adjust their pricing strategies in alignment with production schedules.
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