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At the start of the pricing consultation for four Japan export scrap price assessments and one Vietnam import scrap price on January 7, the initial date slated for the launch of four Japan export ferrous scrap prices was February 12, and February 14 for the Vietnam import H2 scrap price.
Following a rigorous consultation with market participants, the Vietnam import price launch will go ahead on February 14.
But after major South Korean scrap buyer Hyundai Steel made a change to bid tender rules, Fastmarkets opted to extend the consultation for the four fob Japan prices for another seven days from the date of this notice, which will be February 19.
The prices concerned in the notice are as below: Assessment: Steel scrap H2 Japan origin import, cfr Vietnam Quality: Old steel of Japanese origin, sheared or cut to pieces measuring 3-6mm thick and no longer than 1.2 meters in any direction Quantity: Minimum 2,000 tonnes Location: cfr Vietnam port Timing: 4-6 weeks Unit: USD/tonne Payment terms: Letter of credit on sight Publication: Weekly. Friday, 5-6pm Singapore time
Assessment: Steel scrap H2 export, fob Japan Quality: Old steel, sheared or cut to pieces measuring 3-6mm thick and no longer than 1.2 meters in any direction Quantity: Minimum 2,000 tonnes Location: fob Tokyo Bay Timing: 4-6 weeks Unit: Japanese yen/tonne Publication: Weekly. Wednesday, 5-6pm Singapore time
Assessment: Steel scrap shredded export, fob Japan Quality: Old steel scrap fragmentized into pieces no wider than 100mm and no longer than 200mm Quantity: Minimum 2,000 tonnes Location: fob Tokyo Bay Timing: 4-6 weeks Unit: Japanese yen/tonne Publication: Weekly. Wednesday, 5-6pm Singapore time
Assessment: Steel scrap Shindachi export, fob Japan Quality: Separated new steel scrap, generated during the manufacture of sheet fabricated products and measuring no more than 800mm in any direction Quantity: Minimum 2,000 tonnes Location: fob Tokyo Bay Timing: 4-6 weeks Unit: Japanese yen/tonne Publication: Weekly. Wednesday, 5-6pm Singapore time
Assessment: Steel scrap P&S export, fob Japan Quality: Cut structural steel and clean steel plate scrap. Pieces measure no less than 13mm thick, no more than 1.5 m long and 0.5 m wide Quantity: Minimum 2,000 tonnes Location: fob Tokyo Bay Timing: 4-6 weeks Unit: Japanese yen/tonne Publication: Weekly. Wednesday, 5-6pm Singapore time
To provide feedback on this price or if you would like to provide price information by becoming a data submitter to any of these prices, please contact Lee Allen by email at: pricing@fastmarkets.com. Please add the subject heading ‘FAO: Lee Allen, re: Japan scrap prices’.
To see all Fastmarkets’ pricing methodology and specification documents, go to https://www.fastmarkets.com/about-us/methodology.