Scrap prices are inching to cross USD 400 mark as spurt in buying from some of the major buying regions is supporting the drive of scrap sellers to maximize their gains. In general, prices at about USD 390 CFR are being heard from all the regions.
Turkish mills have finally yielded to higher offers and it is reported that an USA cargo has been negotiated with Turkish buyers at a price around USD 375 per tonne CFR FO.
While in Italy price for Category 1 is around EUR 245 per tonne CFR FO with a clear trend to increase, as some domestic mills are buying any available quantity regardless of demanded prices.
Tokyo Steel Mfg Co has increased what the company pays for locally available ferrous scrap by JPY 1,000 to JPY 1,500 per tonne at its four works, effective with January 15th 2010 arrivals. As a result, the new delivered prices of No2 HMS are JPY 30,000 per tonne for seaborne arrivals and JPY 29,000 per tonne for overland arrivals at the Okayama works, JPY 29,000 per tonne for seaborne and overland arrivals at the Kyushu works, JPY 28,500 per tonne for seaborne and overland arrivals at the Takamatsu works and JPY 28,500 per tonne for overland arrivals at the Utsunomiya works.
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