PRICING NOTICE: Launch of one Asian ferrous scrap price; consultation extension for four Asian ferrous scrap prices

Fastmarkets is extending the consultation period for its proposal to launch four Japanese export ferrous scrap prices by one week, and will launch one Vietnam H2 price of Japanese origin later this week.

At the start of the pricing consultation for four Japan export scrap price assessments and one Vietnam import scrap price on January 7, the initial date slated for the launch of four Japan export ferrous scrap prices was February 12, and February 14 for the Vietnam import H2 scrap price. 
Following a rigorous consultation with market participants, the Vietnam import price launch will go ahead on February 14.
But after major South Korean scrap buyer Hyundai Steel made a change to bid tender rules, Fastmarkets opted to extend the consultation for the four fob Japan prices for another seven days from the date of this notice, which will be February 19.
The prices concerned in the notice are as below:
Assessment: Steel scrap H2 Japan origin import, cfr Vietnam
Quality: Old steel of Japanese origin, sheared or cut to pieces measuring 3-6mm thick and no longer than 1.2 meters in any direction
Quantity: Minimum 2,000 tonnes
Location: cfr Vietnam port
Timing: 4-6 weeks
Unit: USD/tonne
Payment terms: Letter of credit on sight
Publication: Weekly. Friday, 5-6pm Singapore time
Assessment: Steel scrap H2 export, fob Japan
Quality: Old steel, sheared or cut to pieces measuring 3-6mm thick and no longer than 1.2 meters in any direction
Quantity: Minimum 2,000 tonnes
Location: fob Tokyo Bay
Timing: 4-6 weeks
Unit: Japanese yen/tonne
Publication: Weekly. Wednesday, 5-6pm Singapore time
Assessment: Steel scrap shredded export, fob Japan
Quality: Old steel scrap fragmentized into pieces no wider than 100mm and no longer than 200mm
Quantity: Minimum 2,000 tonnes
Location: fob Tokyo Bay
Timing: 4-6 weeks
Unit: Japanese yen/tonne
Publication: Weekly. Wednesday, 5-6pm Singapore time
Assessment: Steel scrap Shindachi export, fob Japan
Quality: Separated new steel scrap, generated during the manufacture of sheet fabricated products and measuring no more than 800mm in any direction
Quantity: Minimum 2,000 tonnes
Location: fob Tokyo Bay
Timing: 4-6 weeks
Unit: Japanese yen/tonne
Publication: Weekly. Wednesday, 5-6pm Singapore time
Assessment: Steel scrap P&S export, fob Japan
Quality: Cut structural steel and clean steel plate scrap. Pieces measure no less than 13mm thick, no more than 1.5 m long and 0.5 m wide
Quantity: Minimum 2,000 tonnes
Location: fob Tokyo Bay
Timing: 4-6 weeks
Unit: Japanese yen/tonne
Publication: Weekly. Wednesday, 5-6pm Singapore time
To provide feedback on this price or if you would like to provide price information by becoming a data submitter to any of these prices, please contact Lee Allen by email at: pricing@fastmarkets.com. Please add the subject heading ‘FAO: Lee Allen, re: Japan scrap prices’.
To see all Fastmarkets’ pricing methodology and specification documents, go to https://www.fastmarkets.com/about-us/methodology.

Lee Allen

lee.allen@fastmarkets.com

Published

Lee Allen

February 12, 2020

09:50 GMT

Singapore