NEWS
IRON and STEEL   Scrap & Recycling  

South Korea: Hyundai Steel Books Two Bulk Scrap Cargoes from US

SteelMint learned from the updates that South Korean leading EAF steelmaker- Hyundai Steel has recently booked two more bulk ferrous scrap cargoes from the US.

The steelmaker reported to have contracted around 40,000 MT cargo from Schnitzer scrap yard and 43,000 MT of cargo from SIMS scrap recycler at an average equivalent price of (HMS 1) USD 312/MT, CFR South Korea.

As per data available with SteelMint, the company had booked one June shipment bulk cargo at USD 333/MT, CFR during the first week of April while another bulk cargo was booked for equivalent HMS 1 at USD 329/MT, CFR three weeks back. Thus, bulk scrap prices from US suppliers have been observed a sharp fall of around USD 17/MT as against prior bulk contract made.

Hyundai’s bid for Japanese H2 scrap was at JPY 31,000/MT (USD 278) on 26th April before starting of Golden Week holidays.

Market awaits Kanto’s scrap export tender response - Most of the Japanese market participants are waiting for Kanto Tetsugen monthly scrap export tender, scheduled on 10th May for this month to have more clarity on market direction. Participants believe that Japanese prices have already reached the bottom and may rebound in the near terms.

News No: 4506
Date: 2019/05/14 - 12:54
News Source: SteelMint

South Korea  Hyundai  Steel  Scrap  US 

Comments:

Leave a Comment:

   
   
   
 

Malaysia allows Lynas to continue operating rare earths plant for six months

Malaysia has granted Australia’s Lynas Corp (ASX: LYC) an extension on its operating licence for a rare earths processing plant, subject to various conditions and valid only for six months, keeping alive concerns about the miner’s fate in the Southeast Asian country.
 

Coal’s last healthy market fades as trade woes weigh on steel

One of the few remaining bulwarks propping up the US coal industry is languishing.
 

SE Asia Billet Prices Fall Amid Dull Market Conditions

The SE Asian billet import market remained silent this week. No deals were reported this week. The market was quite due to weaker sentiments. This week South East Asia’s billet import assessment stands at around at USD 440-445/MT, CFR, down USD 5/MT against last week.
 

India: SAIL Reduces Pig Iron Offers for August Deliveries

Steel Authority of India Ltd (SAIL) has reduced basic grade (steel grade) pig iron offers by around INR 700/MT (USD 10) from its Bhilai Steel Plant (BSP) based in Central India, SteelMint learned from market sources.
 

India: Imported Scrap Market Turns Silent, Domestic Scrap Remains Preference

Imported scrap offers to South Asia plunge below 2 years low levels on limited demand
 

Indian Iron Ore Exports Up 19% in July’19

Indian iron ore export volumes for July’19 stood at 2.13 MnT, up 19% as against 1.79 MnT in June’19. On yearly basis, exports increased significantly compared to July’18 at 0.17 MnT.
Upcoming Events
Publications
 Mines & Metals

Mine & Business Today

 Scrap & Recycling

Ahangan

Our partners