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Global steel scrap price kept
soaring since November last year. The price went up by above $100 per
tonne from early December last year.
Platts’s steel scrap, fob
US East Coast,
was calculated at $464 per tonne on January 5, and the shredded scrap,
delivered US Midwest, was at $426.75 per long tonne.
The steel scrap HMS 1&2 (70:30),
fob Rotterdam, held at $450.25 per tonne, and the steel scrap HMS 1&2
(80:20),
cfr Iskenderun Port, was at $482.5 per tonne.
The seaborne price of Japan H2
scrap hit $485 per tonne, latest data collected by SteelHome on Tuesday.
Though China has opened scrap
imports, it is unlikely to observe a large amount of imported steel
scrap products to this country in the near future, as the import prices
were much higher than the domestic ones. According to SteelHome
calculations, the US steel scrap, delivered to China, would be at 3580
yuan/t ($553/mt), Japan H2 scrap at 3550 yuan/t ($548/mt), while China
domestic-produced 6-10mm HMS at 3020 yuan/t in Zhangjiagang.
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