South Korean Hyundai Steel buys A3 scrap from Russia

By  Paul Ploumis 20 Aug 2015  Last updated at  03:05:18 GMT

TOKYO (Scrap Monster): As per trade reports, South Korean Hyundai Steel is believed to have entered into a purchase agreement with Russian trader towards supply of A3 scrap. The export prices have been settled at US$214 per mt C&F for October delivery. The current transaction prices are lower by USD 4 per mt when compared with previous prices. The total import volume is around 20,000 mt, sources indicated.

Sources indicate that other South Korean steelmakers were seen negotiating for prices below US$214 per mt C&F. As a result, no other deals were entered into.

Last week, the company had also entered into various deals towards purchase of scrap from Japan. The transaction price of Shindachi scrap was settled at FOB JPY25, 000 per mt for September shipment. Also P&S scrap transaction prices stood at FOB JPY24, 500 per mt and those of cracked scrap settled at FOB JPY24,000 per mt, both for September delivery.

Meantime, average price of Japanese H2 scrap declined further during the second week of August this year.

The average price of Japan H2 scrap in Kanto, Central and Kansai region was ¥ 21,643/ton during the second week of August. The prices edged lower by ¥ 266/ton from the previous week.

The average price of H2 scrap in Kanto region was ¥ 22,333/ton. The average price in Kanto region remained unchanged when compared with the previous week.

The average H2 scrap price in Central region was ¥ 20,020/ton. The average prices in the region dropped by ¥ 300/ton when compared with the week before.

The H2 scrap average prices held steady in Kansai regions. The average price of H2 scrap in Kansai region during the second week of August was ¥ 22,575/ton, dropping sharply by ¥ 500/ton when compared with the previous week.