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…
View entirety: S&P Global Platts