CHINA STEEL SCRAP: Demand muted but strong offers persist

The spot market for imported scrap into China remained quiet on Wednesday July 28 due to Japanese sellers offering cargoes at prices much higher than buyers’ ideas of acceptable price levels, sources told Fastmarkets.

Offers from Japan were heard at $600-615 per tonne cfr China on Wednesday. Offers remained strong because South Korean buyers have been paying competitive prices for Japanese heavy scrap (HS), sources said.
"We have an outstanding contract to supply scrap to China but the situation at the discharge port is a nightmare and vessel availability has gone down," a Japanese exporter source said.

The source said that with South Korea paying ¥62,000 ($564) per tonne fob Japan for HS last week, the source would only be able to offer at $610-615 per...

Published

Lee Allen

Paul Lim

Tianran Zhao

July 28, 2021

11:21 GMT

Singapore, Shanghai