Under the influence of the summer break and the impact of the Turkish traditional Ramadan, the European steel scrap market is rather quiet, and prices remain stable. Due to declining demand, the Japanese steel scrapmarketfell down slightly. With theend ofRamadanin Turkey, Europeansteeldemandis increasingto replenish inventories for theSeptember and October. However,in view ofuncertain internationaleconomic, most buyers are quite cautious; the international steel scrap market is expected to increase slightly.
European scrap market is increasing stably, and it was quite stable in August as well as Germany. Price of new steel scrap is about Euros 321/metric ton, and remelting scraps’ is 321 euros /ton. As steel mills continue to add inventory, prices in Italy remain firm. The latest price of steel scrap is 355-365 euros / ton,shredded scrap to 345-350 euros / ton, remelting scrap of 300-310 euros / ton.In Turkey, importedscrap prices remained stable. Under the impact of the Turkish scrap imports market in August deserted, the last from a mixture of 1,2-American heavy scrap (80:20) import price of $ 470 / ton (CFR), P & S Scrap $ 480 / ton (CFR), from a mixture of 1,2-European heavy scrap (80:20) import price of $ 455 / ton (CFR). Foreign suppliers to offer a smooth, now the United States mixture of 1,2-weight waste (80:20) reported $ 470 / ton (CFR), broken waste reported $ 475 / ton (CFR), the European mixture of 1,2-weight waste (80 : 20) reported that 455 U.S. dollars / ton (CFR), the CIS A3 scrap price stability in the 455-460 U.S. dollars / ton (CFR). Eid al-Fitr is expected in early September, the Turkish steel imports will gradually return to the international scrap market, promote scrap prices to rise slowly.
Japanese scrap market tends to rebound. Due to sluggish demand in Japan, scrap prices continued to decline since mid-July, three major scrap Kanto region, central and Kansai No. 2 heavy scrap steel prices fell an average of 31,953 yen / ton (417 U.S. dollars / ton ), compared with mid-July, down ¥ 1,622 / ton. Tokyo Steel scrap purchase price 5 times lower cumulative reduction in 1000-2000 yen / ton, then the other furnace steel mills have reduced the purchase price of scrap. However, with the end of summer, the Japanese steel mills maintenance and supply tight, domestic scrap demand is increasing, September 3, Tokyo Steel increases scrap purchase prices from 500-1000 yen / ton, the first increase since July Japan is expected to stabilize the domestic scrap prices rebound. Japanese scrap export market has picked up trend, the Korean steel company last week to 33,900 yen / ton (FOB) price of an order for a batch of 2 heavy scrap, steel scrap imports from Japan over South Korea after the price rose 400 yen / ton .
Asian scrap import market remained firm. August exports of foreign scrap prices remain strong in Asia, Europe and providers from the offer to remain high, about 480-490 U.S. dollars / ton (CFR), No. 1 heavy scrap in bulk offer nearly 500 U.S. dollars / ton (CFR). Currently, foreign mixture of 1,2-weight waste container (80:20) to the mainstream of China Taiwan quoted 480-485 dollars / ton (CFR), more than two weeks ago of 475-476 U.S. dollars / ton (CFR). In Southeast Asia, despite the uncertainty and because the steel market concerns about the economic situation, the local scrap steel mills do not want to purchase high-priced, but with the Eid al-Fitr holiday week end, the local procurement of steel scrap market will likely return to replenishment of stocks, so the next few weeks, traders are still optimistic about the market trend.