- Chinese scrap demand has been dampened by lower converter and EAF operation rates
- Strong shredded prices in Pakistan prevented sales to Bangladesh
- A major South Korean buyer reduced their Japan scrap bid prices, except for Shindachi busheling
- Taiwan bought containerized scrap at $430-432 per tonne cfr Taiwan.
Buying interest for heavy scrap (HS) from Chinese buyers was limited on Thursday amid production restrictions in the country.
Bids for HRS101-grade steel scrap were heard at $510 per tonne cfr northern China and $510-520 per tonne cfr eastern China on Thursday August 5, against offers from South Korea at $570-580 per tonne cfr China. South Korean material is available to Chinese buyers at least $30 per tonne above Japan-origin scrap, a Singaporean trading source said.