CHINA STEEL SCRAP: Europe P&S emerges as stiff competitor to Japan HS

European plate and structural (P&S) scrap is emerging as a possible source of imported ferrous scrap for Chinese mills at competitive prices to Japanese heavy scrap (HS) materials, Fastmarkets heard.

A 10,000-tonne P&S cargo from Europe was heard sold to a major eastern China steel mill at £460-470 per tonne cfr China this week, although the rumored buyer did not confirm this.

P&S is the name given to the scrap grade known as HS in Japan and as heavy scrap in China.
Freight fixture lists have also showed an inquiry for a 10,000-tonne cargo loading in Rotterdam for a March shipment to a port in Shanghai or Ningbo.

"Everyone is wild about China," a trader source...

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