In spite of soft demand, suppliers keeps raising export price of scrap to the Southeast Asia. The level even surpasses USD 400 per tonne CFR. However, local importers are boycotting the price increase making few transactions concluded.
The latest import price of HMS 1&2 rises from USD 395 per tonne to USD 410 per tonne CFR to USD370 per tonne to USD 380 per tonne CFR. The export quotation from Europe, America, Africa and Middle East ramps up to USD 405 per tonne to USD 420 per tonne from USD 385 per tonne to USD 405 per tonne two weeks ago.
A Singapore base steelmaker said a further price increase is brewing among suppliers.
Currently, the export quotation of HMS 1&2 from America and UK stands at USD 410 per tonne to USD 420 per tonne CFR, but it seems that few trades are closed.