Current Scrap Metal Prices

US exports1.128 million tons of scrap in January – According to the related statistics, US exported 1.1 million tons of scrap in January, decreasing by 15.1 percent compared to the same period of last year.

China imported 272,000 tons of scrap from US, up by 68.7 percent year-on-year. Turkey’s scrap shipments from US totaled 212,000 tons, down by year-on-year 21.1 percent.

Specifically, among those steel scrap, 119,000 tons was shipped to 119,000 tons, 103,000 tons to Egypt, 77,000 tons to Canada, and 55,000 tons to Taiwan.

Japan the average price of H2 scrap slide slightly this week  – According to statistics, the average price of H2 scrap in Japanese Kanto region, middle part and Kansai region was￥15,765/ton, decreasing by ￥112/ton from previous week, but still decreasing significantly by￥30,352/ton compared to the same period of 2008.

As the export price increased, Japanese domestic scrap market is expected to turn steady in nearly future. The H2 scrap price in Kanto region decreased by ￥334/ton to ￥16,083/ton from previous week, and the price stayed at ￥14,980/ton in the middle region, and meanwhile the price in Kansai region was￥16,233/ton.

Japan scrap price to move up in South Korea – Hyundai Steel purchased H2 scrap steel at FOB ￥19500/ton from a Japanese trading company, and the price is ￥200/ton higher than last week.

Last week, Hyundai steel purchased high quality scrap from Japanese P&S and Shindachi at FOB ￥21800/ton. On the other hand, Hyundai steel purchased American H1 scrap at C&F US$232/ton, and accordingly the price of Japanese H2 scrap still has room to move up for South Korean market.