Containerized scrap supply to Asia tightens as freight from USWC surges
The containerized ferrous scrap market in Asia saw tighter supplies and offers coming from western origins, amid bulging shipping space constrains and surging freight rates, sources said.
“Just slightly more than a month back, freight to Taiwan was only at $10 per feet of container, and now it’s $40 per feet of container for March,” a US supply source said. “Freight is massive.”
Other sources, meanwhile, cited 40 feet container prices in a $1000-1,600/mt range to Asia.
Translating to a per metric ton of cargo cost for comparison, the midpoint $1,300 price tag for March shipments would equate to $48.10/mt, versus only $14.80/mt in early January, assuming an average load of 27 mt per 40 feet container.