U.S. ferrous scrap export price to South Korea is approaching CFR US$ 500 per tonne. Current contract price is CFR US$ 498 per tonne for HMS and No.1 grade by South Korean major steel maker, SeAH Steel for one cargo, according to Japanese dealer source. Contracted ferrous scrap will be delivered in November. The price increased by about US$ 10 per tonne from September.U.S. ferrous scrap composite price has stayed at US$ 416.83 per tonne for 7 consecutive weeks until September 4, which is the average of 3 areas, Pittsburgh, Philadelphia and Chicago. The export price to Turkey levels off at CFR US$ 465-470. Japanese scrap trader said major shipper keep strong selling stances when U.S. steel makers’ operation rate is currently above 75%. Japanese ferrous scrap export offer price is above FOB 36,000 yen per tonne for H2 grade to South Korea. On the other hand, actually contracted price is around FOB 35,800 yen at present. Another scrap dealer said Japanese ferrous scrap export price is catching up with U.S. ferrous scrap export rice due to rising domestic scrap market price since early September and ultra-high yen trend.
Japan Steel Scrap Composite Prices (Sangyo Press)09/28/2023
|50400YEN (-)||52000YEN (-)|
|334.55US$ (-1.27)||345.17US$ (-1.31)|
* Average of electric furnaces steel maker's purchasing price in Tokyo, Osaka and Nagoya (per ton)