Vietnam’s imported scrap market has seen a recovery in terms of buying inquiries and prices with the easing of lockdown measures. Mills have turned active toward bookings scrap cargoes.
The demand for raw materials from the construction industry is seeing a recovery. Buyers have actively started restocking.
- Fresh offers for Japanese H2 are being quoted at $505/t CFR Vietnam levels, up by $5/t w-o-w.
- Currently, offers for bulk US-origin HMS 1&2 (80:20) are at $510-515/t CFR Vietnam levels, up by $5-10/t w-o-w. Demand for US west coast cargoes is quite strong at the moment.
Vietnam billet exports offers up: Vietnam billets exports offers rose on improved Chinese buying. According to SteelMint sources, BF-route billet offers from the country are at $690/t, FOB Vietnam, up by $15/t weekly. Also, a Vietnam-based mill concluded an export deal for 30,000 t of BF-route billets to China at around $710-715/t, CFR China last week.
Other South East Asian market highlights
Thailand’s imported scrap offers up: Imported scrap offers into Thailand increased this week. Few deals of Central America-origin HMS 1&2 (80:20) are currently at $440-445/t CFR, up by $5-10/t w-o-w. However, no bulk deals were heard.
Thailand’s ferrous scrap imports were recorded at 0.14 mn t in Aug’21 against 0.17 mn t in July, down 18% on a monthly basis, as per customs data maintained with SteelMint. Australia was the leading exporter to Thailand in Aug’21 with 18,900 t followed by Panama and Japan with 15,300 t and 10,510 t, respectively. However, on a y-o-y basis, imports into Thailand rise by 40% from 0.10 mn t in the same month last year.
Imported scrap trade in Indonesia yet to pick up: Imported scrap trade in this South East Asian country is yet to pick up, owing to a discrepancy in bids and offers. Hong Kong-origin PNS is being offered at $535-540/t CFR Jakarta levels, up by around $5/t w-o-w. However, the most preferred UK-origin PNS scrap is being quoted at $530/t CFR, Jakarta.
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