SE Asia’s scrap importing countries remained quiet from the second half of last week and likely to resume market by tomorrow, amid prevailing holidays of labour day.
Imported scrap prices to Vietnam remained on the higher side. Japanese scrap suppliers have kept their scrap export offers at higher levels and are making profits from China’s active buying activities before the holidays.
However, few trades were reported before the holidays, in which one deal was heard to have been concluded for 4,000 t of Japanese H2 at $470/t CFR Vietnam basis towards the last week end.
“Inquiries for around 20,000 t of Japanese scrap heard to have been quoted at $475-480/t CFR levels”, however, SteelMint was unable to confirm the deal till the time of publishing this report.
SteelMint’s assessment for Japanese H2 stands steady at $480/t CFR basis, witnessing a stability w-o-w.
Vietnam’s billet export offers up by $10 w-o-w: Billet offers rose after China announced the removal of import duty from May ’21 on non-ASEAN billets. The IF route billet export offers from the country were at $650/t, FoB. No, BF route offers were heard for this week.
Thailand: Imported scrap offers for Central America origin HMS 1&2 (80:20) remained stable at $410/t CFR levels during last few weeks, on slow demand. On the other hand, Australian origin HMS 1&2 (80:20) was up by $10 to $440/t CFR Thailand levels against a week ago.
Thai automotive production rise in March’21: 162,515 units were produced, witnessing a slight hike of 5% m-o-m in March 21. The country’s passenger and commercial car sales have climbed up significantly by 26% m-o-m in March’21, according to the FTI (Federation of Thai Industries).
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