Thailand based mill books bulk scrap cargo: Imported scrap market in Thailand remained active with both bulk and container booking being reported last week.
- Thailand’s prominent steelmaker booked 30,000 t bulk cargo with shredded scrap at an increased price of $316/t CFR Thailand, from a US west coast (WC) based scrap recycler, SteelMint learned from trade source. Prices have moved up by around $10 against the last booking of similar material in mid Aug’20.
- Offers from Central America for HMS scrap in containers stand at $260/t CFR Thailand; up by $10 in the last 2 weeks.
Ferrous scrap imports to Thailand in Jul’20 observed a sharp hike of 82% m-o-m basis to 0.1 mn t. USA remained the largest scrap supplier to Thailand, as per customs data maintained with SteelMint.
Vietnam’s imported scrap buying turns slow – Vietnamese imported scrap offers have continued to increase since last couple of weeks, whereas buyers remained cautious over a week to book bulk cargoes at increased offers. Last week imported scrap offers mostly remained firm, while slow trades were witnessed.
- SteelMint’s assessment for Japanese bulk H2 stands at $297/t, CFR level, stable against last week’s report. However, offers stand at JPY 300-305/t, CFR level
- In a fresh deal reported last week, a Vietnamese steelmaker booked Japanese HS bulk cargo at around $315/t CFR basis.
- Other higher grade shredded is being offered at around $315/t CFR level.
- Whereas, buyers’ price idea for H1/H2 and shredded currently stands at $295-298/t and $308/t CFR levels respectively, however, no significant deals were reported.
- No firm bulk US scrap offers were reported from US.
Vietnam witnessed an uptick by 13% m-o-m in its ferrous scrap imports in Jul ’20. The country imported 0.48 mn t in Jul ’20 as against 0.42 mn t in Jun ’20 as per customs data maintained with SteelMint. Imports from USA have increased significantly by 83% to 91,523 t as mills shifted preference in booking more USA origin bulk cargoes, owing to high Japanese scrap offers over tight scrap availability. Although, Japan remained the largest scrap exporter with 54% of share in total scrap imported by Vietnam.
Indonesia imported scrap offers up – Indonesian imported scrap offers remained flat at the beginning of the week, while offers slightly moved up later in the week.
- P&S offers in 20 ft containers are being offered $310-315/t CFR Jakarta last week, up by $10-15/t w-o-w.
- Whereas, P&S in 40 ft containers, up by $5 and is sold at around $300/t CFR Jakarta basis.
- Busheling scrap offers in 20 ft containers are now stands at $ 320/t CFR Jakarta, up by $5/t w-o-w.
- HMS 1&2 (80:20) sales from USA were reported at $300/t CFR Jakarta basis.
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