The Southeast Asian scrap market has started to revive. Both the increase in Japanese domestic prices and the preparation of higher price offers by Korean mills for September deliveries strengthened the forecasts for an upward trend in the scrap market.
Export offers for H2 grade at Japanese ports remained stable, trading at 340-345 $/t FOB, but domestic offers rose at least 7-10 $/t to 353-355/t DAP, market representatives affirm.
According to the market sources, Korean buyers are ready to confirm purchase offers for HS shipments at $395-397/t CIF, with an increase of $7-10/t at once. Experts predict that after this increase, the trend in the market will continue upwards.
Comments
No comment yet.