Domestic scrap prices in Jakarta rallied strongly over the week, with slower scrap collection and generation driving mills to seek import opportunities or to purchase only on a need-to basis.
Bids for local HMS 90:10 scrap climbed fast from the start of the week, and saw a total increase of Rupiah 200-400/kg ($14-27/mt) to a range of Rupiah 4,200-4,400/kg July 17.
“Collection and generation are slower now, leading to tighter supply. Many factories and fabrication businesses have shuttered, so not much generation left,” an induction furnace steelmaker said…
