CHINA STEEL SCRAP: Seaborne trade thin amid lack of vessels, low bids

Seaborne imports of ferrous scrap into China remained scarce on Tuesday March 30, with a lack of vessels and low bids from Chinese steel mills keeping market liquidity low.

Traders are still finding it hard to source vessels to carry bulk shipments of ferrous scrap to China from Japan or other parts of Asia, resulting in a lack of offers from sellers. And high freight costs have exacerbated the logistics problem.
The price difference between domestic and imported prices is also a sticking point for buyers.
"Given the large price gap between domestic and imported prices, it is hard for buyers to increase their bids," a trader said.

"Our price would be $445 per tonne cfr for HS today...

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