IRON and STEEL   Scrap & Recycling  

South Korean Steel Mills Book 150,000 MT Bulk Scrap; Prices Inch Down

South Korean steel mills have continued buying multiple bulk scrap cargoes at corrected prices since last two weeks. Massive scrap bookings comprising another 152,000 MT mixed scrap have been made for Mar-April deliveries this week.

According to reports, this could be the major variable for Mar’19 scrap market.

Hyundai Steel Books two more US bulk scrap cargoes - South Korea’s leading EAF steelmaker - Hyundai Steel heard to have booked two more bulk scrap cargoes. Schneider steel company sold a cargo comprising 40,000 MT and SIMS metal company sold another 45,000 MT mixed scrap at an average price equivalent to HMS 1 at USD 302/MT, CFR. These cargoes are scheduled for Mar’19 and Apr’19 delivery respectively.

Korea Steel & SeAH Besteel book US cargoes for March delivery - Korea Steel has signed a contract of 32,000 MT mixed scrap from SIMS metal at an average price of USD 306/MT (HMS 1), CFR. The cargo is scheduled for mid-march delivery comprising 27,000 MT HMS 1&2 (80:20) and 5,000 MT of Shredded scrap.

SeAH Besteel company contracted for 35,000 MT scrap from the same supplier, SIMS metal USA. The cargo sold at an average price of USD 304/MT, CFR.

Imported scrap prices fell USD 5-7/MT W-o-W - Last week, US bulk scrap cargoes were booked by leading steel mills like Hyundai, Hwangyang and Dongkuk at USD 311/MT, USD 315/MT and USD 308/MT respectively. While Hyundai Steel had booked a Russian cargo equivalent to A3 at USD 301/MT, CFR. US scrap prices could have come under pressure amid slow demand from Turkish steel mills.

It is now expected that South Korea will observe several bulk vessels arriving at steel mills in February and March. This will have a considerable impact on both the domestic and imports markets.

On the other hand, Japanese steel mills haven’t resumed scrap purchases significantly keeping export offers unchanged. H2 scrap export prices in the Tokyo region remained stable at JPY 29,000-30,000/MT, FoB.

News No: 3418
Date: 2019/01/26 - 02:13
News Source: SteelMint

Bulk Scrap  Hyundai Steel  Korea Steel & SeAH Besteel 


Leave a Comment:


Hyundai Steel commissions new horizontal roller straightener from SMS group

Korean Hyundai Steel has awarded SMS group the Final Acceptance Certificate after successful commissioning of a new straightening machine for the medium section mill at its Incheon site, South Korea.

Global Ferrous Scrap Market Overview - Week 3, 2019

This week observed mixed trends in global scrap markets with Turkey scrap prices surprisingly jumped in recent deals while Asian scrap prices continued a downward correction. South Korean steel mills booked another 3-4 bulk cargoes from the US and Japan again this week.

Global Ferrous Scrap Market Overview - Week 2, 2019

This week observed strengthening of demand both in Turkey and Asian markets on limited inventories available.

South Korean Steel Mills Book Bulk Scrap Cargoes; Prices Down

South Korean steel mills have bought multiple bulk cargoes at corrected prices this week. Scrap purchase enquiries from US, Russia and Japan to South East Asian markets increased and steel mills remained in search for bulk cargoes at reasonable prices.

Indian Bulk Scrap Imports Recorded at 515,000 MT in 2018 - Port Data

India world’s third-largest scrap importer after Turkey and South Korea has witnessed more than a half MnT bulk scrap imports in 2018. As per vessel line up data maintained with SteelMint, Indian bulk scrap imports recorded at 515,121 MT in CY18. Which increased 37% Y-o-Y in 2018 as against 376,600 MT bulk scrap imports recorded during CY17.

Global Ferrous Scrap Market Overview - Week 50, 2018

Global scrap markets remained slow this week on weak demand and limited trading activities. Turkish steel mills hold scrap buying resulting in prices to stand almost flat.
Upcoming Events
 Mines & Metals

Mine & Business Today

 Scrap & Recycling


Our partners