South East Asian markets for imported scrap observed good trading activities on an overall basis, even as offers shot up from all major origins, as improving demand by steelmakers in the region gave confidence to the market.
Vietnam – Amid continued uptrend, imported scrap prices to Vietnam increased sharply this week, due to strong trends at Japanese as well as North American export markets, while buying activities remained decent.
Japanese H2 scrap in bulk was last week booked by North Vietnam buyers at USD 265-270/MT CFR North Vietnam, against offers of USD 260/MT CFR in the previous week, while fresh offers for Japanese H2 as of today stand at USD 275/MT CFR for North Vietnam and USD 270/MT CFR for South Vietnam buyers, up by at least USD 10/MT in comparison to last week’s opening.
Among the higher grades, Shin Dachi scrap offers from Japan have now climbed up to USD 298-300/MT CFR Vietnam, against USD 290-293/MT levels last week, however, the buyers’ bids are still at USD 287-288/MT CFR by North Vietnam mills, making sellers less interested in concluding deals. A Hong Kong origin H1:H2 50:50 deal was reported at around USD 261/MT CFR, sharply up against last week’s bookings.
With North American offers also gaining strength, HMS 1&2 (80:20) bulk offers shot up by more than USD 10/MT over the week and now standing at USD 275-280/MT CFR Vietnam, with good demand from buyers, while a cargo was last week booked at around USD 268/MT CFR.
Indonesia – A booking of P&S scrap in 40 ft containers was reported from the USA at around USD 265/MT CFR Jakarta last week, while new offers are now around USD 275/MT CFR in 40 ft. Offers for P&S in 20 ft containers were reported at USD 282/MT CFR Jakarta, while bids for the same were recorded at considerably low levels of USD 265/MT CFR. Another deal included Bushelling scrap in bulk sold at USD 275/MT CFR Jakarta
HMS 1&2 (80:20) offers in containers were reported at around USD 240-245/MT CFR Jakarta, while bids for the same remained at USD 235/MT CFR.
Taiwan – HMS 1 was sold in a recent deal to a Taiwanese mill at USD 233/MT CFR Kaohsiung, in containers. H1:H2 50:50 in bulk was offered at USD 265/MT CFR Kaohsiung, while bids for the same stood at USD 260/MT CFR.
Thailand – Central American origin HMS 1&2 (80:20) offers in containers stood above USD 250/MT CFR Thailand, up by USD 3-5/MT W-o-W.
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