Prices for imported scrap to Vietnam shown decline following last week’s trend. USA origin HMS 1&2 (80:20) in bulk was being offered at around USD 295/MT CFR Vietnam, down by USD 5-7/MT against the offers reported last week. Market is expecting further correction in offers in the coming days.
On the other hand, Japanese origin scrap offers have shown stability on a weekly basis. Japanese origin H2 scrap in Bulk to Vietnam was being offered at around USD 282-283/MT CFR Vietnam, almost at the same levels as previous week’s sales, with no major trades being concluded in the week. Higher grade scrap too remained in majorly unchanged, with Shin Dachi scrap being sold for USD 312/MT CFR Vietnam, while HS scrap being booked at USD 310/MT CFR.
Japan’’s Kansai export tender concluded last week, slightly negating the affect of the rise observed in Kanto tender earlier this month. In the said tender, the winning bid was awarded a total 5,000 MT of Japanese H2 scrap at an average of JPY 25,650/MT (USD 233) FAS, which is lower by JPY 1,017/MT (USD 9) against the Kanto tender’s recorded at JPY 26,667/MT (USD 243) for 26,100 MT Japanese H2, on 10th Jan’20.
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