The process was started by the US traders which increased export prices in late Oct. – early Nov. As per preliminary data the US domestic prices will slightly increase in Nov., since the local companies started buying scrap and making stockpiles for winter. Scrap prices decrease stopped in EU by the same reason.
Scrap prices boost took place in recent days in eastern Asia. The buyers from Korea, Taiwan, India, and ASEAN countries simultaneously came into the market and caused rush. Exporters increased the prices for HMS № 1 to more than $400 per ton CFR at large bulk shipments. The prices for the same scrap in containers increased to $380-400 per ton CFR. The prices for Japanese scrap Н2 grew to $380-390 per ton CFR for Chinese and Korean buyers, although in Japan the decrease has not stopped yet.
Turkish companies that purchased large volumes in Oct., keep from scrap buying. However, the traders keep increasing the prices. In late Oct. The price for the US and European HMS № 1&2 (80:20) amounted $375-380 per ton CFR. In Nov. the prices reached $385 per ton CFR and more.