South East Asian markets for imported scrap observed a slight slowdown in buying activities over the last week, on swiftly growing offer levels, even as decent buyers’ inquiries were reported on improving demand.
Vietnam: Another sharp rise in offers were witnessed due to material shortage at Japanese origins, as an increase of up to $12-15/t was observed on a weekly basis. Although bookings concluded at older prices, most buyers are resisting the new offers by bidding at least $10/t lower than fresh offers.
Japanese H2 scrap in bulk to Vietnam witnessed a few bookings in both the regions. A cargo was sold to North Vietnam at $280/t CFR North Vietnam last week, while the fresh offers stand at $285-290/MT CFR, with buyers in North bidding at around $280/t CFR. A few deals to South Vietnam buyers was reported last week at around $275-278/t CFR, with offers now standing between $280-285/MT CFR South Vietnam, while bids stood at $275/MT mostly by South buyers.
Another deal included Hong Kong origin H1&H2 (50:50) being sold at around $275/t CFR Vietnam. Higher grade Japanese Shin Dachi scrap offers were observed at $308-310/t level, while buyers didn’t bid on account of very high prices.
North American offers showed relative stability after the previous week’s uptrend, with HMS 1&2 (80:20) bulk offers standing at $278-282/t CFR Vietnam, marginally above last week’s report.
Indonesia: Indonesian market remained slightly quiet this week on high offers from suppliers. A deal of Busheling scrap bundles was reported at around $280/t CFR Jakarta, with new offers in containers closer to $285-288/t CFR. P&S offers were recorded at $280/t and 275/t CFR Jakartain 20 ft and 40 ft containers respectively, while bids were lagging behind at around $265/t CFR.
Another booking included containerized HMS 1 being sold at $265/t CFR Jakarta, while HMS 1&2 (80:20) was recorded at being offered for $257-260/t CFR. Domestic scrap and steel prices were reported to climb up by $10/t this week.
Thailand: Offers remained mostly stable w-o-w, with Central American HMS being quoted at $250-255/MT CFR Thailand
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