The unabated rally in steel scrap prices is continuing northward march in January
India
It is reported that while HMS import prices from Africa and MEA have increased to USD 385 per tonne to USD 395 CFR levels, shredded scrap from UK is being offered by a major supplier at USD 425 per tonne to USD 435 per tonne CFR levels
Turkey
Composite cargo (60% HMS, 20% P&S & 20% Shredded) from US is reported to have been sold at USD 396 pet tonne to USD 400 per tonne CFR levels
China
Some major bulk deals of US mixed cargos of shredded and HMS have been heard at USD 406 per tonne to USD 408 CFR levels
Taiwan
Containerized HMS is reported to be at USD 380 per tonne CFR levels as against USD 350 per tonne, about 20-25 days ago
US Domestic
Prices are reported to be at USD 398 per tonne to USD 400 per tonne levels
Market players opine that the steel scrap prices could gain further by at least USD 15 per tonne to USD 20 per tonne by January end as the collection at the yards of major scrap suppliers has been hit by severe winter as well as general slow down in industrial activity