Imported scrap trades in most SE Asian markets have slowed down in face of hike in offers and ongoing holidays in Japan, shared market participants. In Thailand, buyers preferred cost-effective domestic scrap over the imported scrap thus limiting trades in the region overall.
Vietnam: Japanese market remains closed this week due to ongoing summer holidays. It was also reported that during last week as well, there had been limited suppliers in the Vietnam market. Notwithstanding that, few of the deals that were noted by our team till last week’s closing are as follows:-
- Japanese H2 scrap booking was reported early last week at $275/t CFR North Vietnam
- Other higher Japanese grades such as HS, shindhachi and shredded were offered at $310/t CFR level, up by $5-10/t w-o-w
- Very limited offers were reported from the USA last week. “Offers from the USA are very high, and they are mostly selling to Turkey,” shared a source.
Indonesia: Imported scrap offers to Indonesia have increased slightly over a week, although trade did slow down during last week with major scrap grade offers being reported as below:-
- P&S offers are available in the range of $295-300/t CFR Jakarta (in 20 ft containers), mostly stable against last week
- Busheling scrap offers are at around $ 305-310/t CFR Jakarta (in 20 ft containers), up by $5-10/t on a weekly basis
- HMS 1&2 (80:20) sales were reported at $265-270/t CFR Jakarta basis, up by $5-10 w-o-w
- Also, few offers for new tin plates were quoted at around $280-285/t CFR Jakarta.
Thailand: Very few imported scrap trades to Thailand were reported last week, as imported scrap offers surged. Offers from Central American HMS 1&2 (80:20) were reported at around $260-265/t CFR Thailand, up by $15 against the last report, however, no major deals were concluded. On the other hand, domestic scrap prices witnessed a drop with prices reaching levels of Thb 8,300-8,500/t ($267-273) DAP basis from ThB 8,700-8,900/t DAP levels two weeks back.
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