Steel Price News from MEPS (International) Ltd.
  Home Company Profile Steel Industry Analysis Meps Publications Consultancy Independent Studies
 
MEPS Steel Prices On-line MEPS Steel Reports On-line MEPS Industrial Sector Steel Price Index

Company Profile
Steel Industry Analysis
MEPS Steel Publications
Steel Consultancy
MEPS World Steel Prices
Independent Studies
Request Free Publications
Steel Statistics
MEPS Index Steel Prices
Subscribe to Publications
MEPS Steel News
Industry News
MEPS Sponsored Events
Steel Links
Subscription Rates
Add Link To Website
Content for Websites
Contact Us
Site Map
 
World Carbon Steel Price
World Carbon Steel Price Index
EU Carbon Steel Price
EU Carbon Steel Price Index
Asia Carbon Steel Price
Asia Carbon Steel Price Index
North American Carbon Steel Price
North American Carbon Steel Price Index
Flat & Long Carbon Steel Price
Flat & Long Carbon Steel Price Index
All Products Composite Steel Price & Index - Free
Stainless Steel World Price
Stainless Steel World Price Index
EU Stainless Steel Price
EU Stainless Steel Price Index
Asia Stainless Steel Price
Asia Stainless Steel Price Index
North American Stainless Steel Price
North American Stainless Steel Price Index
Home > MEPS Steel News - 01.03.2012

ASIAN FERROUS SCRAP MARKET ROUNDUP FROM MEPS

Chinese provincial quotations for scrap declined on average by 0.6 percent during February. Domestic traders remain bullish over the pricing outlook for the first half of 2013. The economy is reviving due to the recent government measures.

Different price scenarios were witnessed in the four Indian regions researched by MEPS. Buying activity by domestic steel mills is dull. Negotiations for March settlements are expected to be arduous. Foreign suppliers are expected to resist calls for them to lower their import quotations, due to healthy demand from other global markets. The government has signalled it is prepared to levy an import duty on scrap material.

Japanese electric furnace steelmakers issued higher purchasing figures during February. Tokyo Steel Manufacturing, a bellwether for the domestic steel industry, has raised its HMS2 purchasing prices at all five subsidiaries to secure material. The upward adjustment was executed in six phases. Domestic supplies had tightened due to firm export shipments.

Taiwanese steelmakers, operating electric furnaces, were in no immediate hurry to procure scrap material. Buying interest was unsettled by the Lunar New Year holiday and weak construction activity.

The pricing environment remains challenging in South Korea. Hyundai Steel, the country’s largest scrap buyer, reduced its purchasing prices for all grades by KRw10,000 per tonne in week 7. Nevertheless, several brokers are anticipating higher prices in March. The price premium for domestic scrap material relative to imports has contracted to $US13 per tonne.

Source: MEPS - Ferrous Scrap Review  Also see: MEPS - Scrap Price Table

Display MEPS steel news & prices on your website - click here

Sign up for free MEPS steel news alerts

Enter e-mail address *Required

Name:      


Company: 
If you are a journalist please tick here: