Imported scrap trades in South East Asian markets have slowed down at increased offers, sources have reported SteelMint. Prices have increased upto $10 w-o-w.
Vietnam: Vietnamese scrap market mostly remained less interested to conclude deals at increased offers owing to the disparity in bids & offers.
- Japanese bulk H2 scrap offers to Vietnam increased to $320/t level but no trades were reported.
- US origin bulk HMS 1&2 (80:20) is being offered at around $315-320/t CFR Vietnam.
- SteelMint’s assessment for Japanese bulk H2 stands steady at $315/t, CFR Vietnam level and that of US-origin HMS 1&2 (80:20) stands at $316/t CFR level.
Indonesia: Indonesia’s imported scrap prices mostly remained stable last week, while limited trades have been reported. Some deals were concluded for PNS at an increased level $320-325/t CFR basis level from different origins.
Recent offers-
- PNS in 20ft container: $318-321/t CFR Jakarta
- Busheling in 20ft container: $330-333/t CFR Jakarta
- Shredded 211: $312/t CFR Jakarta
- Blue Steel: $328/t CFR Jakarta
Thailand: American origin HMS 1&2 (80:20) surged up w-o-w as suppliers were quoted at $285/t CFR level last week, up by $10/t in the previous week. Ford Thailand has seen car sales over past ten months dive 40% to 21,800 units from last year. The drop from Jan to Oct mainly resulted from the pandemic, which distressed the domestic economy and decreased people’s purchasing power.
Outlook- Japan’s monthly Kanto Tetsugen scrap export tender is scheduled on 11th Nov’20, sources have reported to SteelMint. Nearly 20,000 t of Japanese H2 scrap is auctioned via Kanto export tender every month and serves as a benchmark for Japanese scrap export market.
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