This weeks post provides updated scrap metal prices for ship and bulkers as well as the latest scrap metal news.
SHIP SCRAP METAL PRICES
As provided by GMS Weekly:
Steel prices in China too gained significant ground, improving by as much as USD 20/LDT – a sign that sub-continent markets may be set to improve further in the weeks ahead (as there usually is a lag of a week or two with sub-continent markets).
For week 10 of 2015, GMS demo rankings for the week are as below:
|Demo Ranking||Country||Market Sentiment||GEN CARGO
|1||India||Weak||USD 230/lt ldt||USD 260/lt ldt|
|2||Pakistan||Weak||USD 225/lt ldt||USD 255/lt ldt|
|3||Bangladesh||Weak||USD 220/lt ldt||USD 250/lt ldt|
|4||Turkey||Weak||USD 160/lt ldt||USD 165/lt ldt|
|5||China||Weak||USD 130/lt ldt||USD 140/lt ldt|
more pricing provided by LION SHIPBROKERS
LION’S DEMOMETER (USD $ / LT)
COUNTRY BULKER TANKER CONT/TWEEN TREND
TURKEY 135-145 145-155 145-155 stable
PAKISTAN 220-230 240-250 – firm
INDIA 220-225 245-255 245-250 stable
BANGLADESH 230-240 235-245 245-250 firm
CHINA 110-120 120-130 110-120 soft
SCRAP METAL NEWS
YIEH reports that Japan’s nickel-containing stainless steel scrap purchasing prices continued to fall in Kanto area. The purchase prices are between ¥95,000 to ¥ 110,000/ton.
In addition, since April production of stainless steel in the market is not much growth, therefore demand is expected to remain weak temporarily. On the one hand, many traders are wait and see attitude, there is no large orders of nickel-containing stainless steel scrap demand.
CHINESE STEEL PRICES CONTINUE TO ADVANCE, IN FEBRUARY
MEPS Chinese dealer prices increased marginally across flat and long products, in February, despite slow activity, in the region, due to the Lunar New Year celebrations.
In February, MEPS reported that domestic transaction prices for hot dipped galvanised coil escalated by RMB50 per tonne. Selling figures for plate and cold rolled coil advanced by RMB30 per tonne. Hot rolled coil values rose by RMB20 per tonne.
In long products, medium sections prices increased, last month, by RMB20 per tonne as wire rod and reinforcing bar values were steady, month-on-month. However, merchant bar figures contracted by RMB10 per tonne.
Chinese domestic steel selling figures are likely to advance further, in the short term, as steel consumption, especially in the construction sector, is expected to ramp up.
However, MEPS believes that the price recovery will be temporary, with activity, in most steel consuming sectors, projected to slow down in the third trimester.