Most sources echoed firm sideways price movement expectations for November delivery. Flat-rolled mills were running at full capacity due to steady demand and most of them already sold out for the rest of the year.

Despite some upcoming mill outages, scrap sources expected current strong downstream demand to support scrap prices. Moreover, some grades were already heard to be tight in the market due to steady demand combined with insufficient flows. With a busy grain season, logistical issues were also challenging scrap flows in the river system lately.

Platts US shredded scrap index was calculated at $281/lt delivered Midwest Oct. 23, unchanged from Oct. 16.

The Japanese seaborne scrap market saw prices edge up as price expectations between buyers and sellers remained wide apart.

H2 material of 18,000 mt was sold at $305/mt CFR Vietnam Oct. 21, while another 10,000 mt lot at $298/mt CFR was done a day earlier, sources confirmed. While South Korean mills were again unwilling to budge on their Yen 26,500/mt FOB bids for H2 material.

Within the containerized scrap market, prices to Taiwan saw its second week of rally, with prices up $6/mt from a week ago ending the week to Oct. 23, amid few US offers yet again, sources said.

Deals were concluded mid-week ranging from $274-$275/mt CFR Taiwan for US HMS I/II 80:20 material, though buy side sources said that such levels were unlikely to see deals as the week ended.

Trading sources too echoed that containerized scrap suppliers from the US, Europe, and Australia, towards the later-half of the week were making offers scarce, which left Asian buyers in the lurch with unanswered inquiries.

S&P Global Platts assessed India import containerized shredded scrap at $317/mt CFR Nhava Sheva Oct. 23, up $7/mt on the week.

-- Staff