US scrap price on HMS No.1 registered $313.32 per ton, hiking $20 from an earlier week average, at the domestic market, the recent foreign news released.
In Pittsburgh, a leading market affecting the US scrap prices, $20 per ton hike resulted in $324.80 per ton, while in Philadelphia the scrap price heightened $20 week to week to $310.04 per ton, and in Chicago $305.12 per ton registered, $20 higher than a prior week respectively.
US scrap experts told S&M Media that the US domestic price for scrap remained unchanged in spite of headwinds from the bullish Turkey market, but the steady firmness of the US scrap consumption as well as the robust import price of Turkish material boosted the US market price moved up in the two months absence. Most currently, in both Turkey and the US the steel scrap price posted $322 per ton in terms of HMS No.1&2(80:20).
Meanwhile, the US export of steel scrap improved sharply year on year, increasing 20.1 percent to 16,082,821 tons, the Commerce Department Statistics Bureau released.
By destination, the US steel scrap exports extended almost overseas market except Turkey. Export shipment to Vietnam soared 514 percent to 980,223 tons, while to Thailand registered 1,780739 tons, a 37.6 percent gain a year ago.
Overseas scrap experts delivered that the US scrap exports held on toward Turkey, while increasing to a large extent toward almost destinations including Vietnam and Thailand. Those major export market for the US will attract more import of steel scrap, they predicted.
US steel scrap export in November last year however decreased 10.0 percent year on year totaling 1,466,138 tons, seeing cuts in almost destinations apart Thailand. Shipment headed to Vietnam downed 8.7 percent, and to Turkey down 37.6 percent, while to Thailand, the shipment gained 29.3 percent to 160,624 tons. US scrap exports through October last year jumped 20.5 percent to 14,616,683 tons, the Commerce said.
By the way, it is known that Japan’s Tokyo Steel announced to lift its scrap buying offer prices in four days again, by 500 yen per ton, settling at between 31,000~35,000 yen per ton which took place from March 13.
Overseas scrap experts commented that Tokyo Steel’s scrap buying price increase is a reflection of the current upside for the scrap bidding price tendered around Kanto District. Tokyo Steel is said to have already increased its scrap buying price over ten times earlier since February 14, amounting to a hike of 3,500~4,500 yen in total.
Source: Steel&Metal News |
