Imported scrap offers to Vietnam have fallen considerably over the last 2 weeks, with the Japanese origin bulk offers coming down by USD 15-20/MT in this period. Although most of the steel mills and sea ports in Vietnam are operational as yet, the social distancing implementation looks to pull down steel demand in the country.
Current offers for Japanese origin H2 scrap to Vietnam stand between USD 220/MT CFR Vietnam, in comparison to USD 240 levels in the latter March ’20. Earlier last week few bulk bookings concluded, with Japanese H2 being sold at JPY 230/MT CFR to North Vietnam, while deals to South Vietnam concluded at around USD 210/MT CFR.
Other grades also witnessed a fall in offers, with P&S offers reported at USD 240/MT CFR Vietnam, while Shredded 211 being assessed at USD 235/MT CFR. Hong Kong origin H1H2 (50:50) was sold at USD 210/MT CFR to a South Vietnam mill .
USA origin HMS 1&2 (80:20) in bulk was offered at USD 230-235/MT CFR Vietnam, down by USD 5/MT on a weekly basis.
Indonesia – Imported scrap buying continues in Indonesia with offers from most origins moving down. USA origin HMS 1&2 (80:20) in containers (40 ft) was offered at USD 215/MT CFR Jakarta, while P&S from US in containers (20 ft) was reported at USD 235-240/MT CFR. Oversized P&S from Hong Kong was reportedly sold at USD 250/MT CFR Jakarta.
Leave a Reply