International scrap steel price rebounded and rose >4% in a week

The international scrap steel price rebounded and rose further, increased by 4-5% in a week. Feng Hsin Iron & Steel (2015-TW)’s steel price rose for 3 consecutive weeks. The price of scrap steel and reinforcing bar rose by NTD300 per ton and the price of I-beam remain unchanged.

Since the northern hemisphere is extremely cold, the collection and transportation of scrap steel is not easy. As the supply decreased, international scrap steel price rebounded. US’s container scrap steel price rose by 4.4% or USD14 in one week, from USD295 per ton to USD308 per ton. Japan scrap steel price also increased by 5% or USD15 in one week from USD309 to $324 per ton.

Regarding other material prices in the international market, Australia Iron ore price fell from USD90.2 per ton to USD87.35. There is no US’s large ship scrap steel price offering this week.