Prime grades of scrap in Asia are fetching strong premiums over obsolete grades on higher demand for high-quality raw materials from regional induction and electric-arc furnaces.
Prices for containerized busheling were at $390-400 per tonne cfr Indonesia last week, while those for containerized plate and structural (P&S) scrap were at $370-380 per tonne cfr Indonesia. Containerized shredded scrap were priced at $355-360 per tonne cfr Indonesia during the same period.These price levels compare with $340 per tonne cfr Indonesia for containerized heavy melting scrap (HMS) 1&2 (80:20) scrap - a spread of up to $60 per tonne.The same situation was seen in Taiwan, where imported containerized shredded scrap were being negotiated at $350 per tonne cfr Taiwan - a premium of $13-15 per tonne over imported containerized HMS 1&2 (80:20), which were transacted...