SE Asia: Imported scrap offers move up on strengthening global market

Imported scrap market for South East Asia observed an uptrend this week as prices for the Japanese scrap increased after the result of July Kanto Tetsugen auction. On the other hand, Indonesia witnessed good buying activities at increased prices. While few deals were also reported to Thailand.

Vietnam: Imported scrap offers to Vietnam witnessed a rise on a weekly basis by around $ 10-15/t, especially from Japan origin after Japanese offers witnessed strengthening since the 2nd half of last week.

Japanese H2 scrap offers for bulk are being offered at $ 260/t CFR to South Vietnam and $ 264/t CFR for North Vietnam buyers, while no fresh deals have been concluded at the price levels. Buyers are bidding at $ 250/t CFR for South Vietnam and $ 255/t CFR for North Vietnam mills.

Similarly, fresh offers for the other higher grades from Japan such as Shindhachi stood at $ 283/t CFR Vietnam while bids for Shindhachi for this week are awaited.

Indonesia: Imported scrap offers to Indonesia witnessed awkward moments over the last one week, however, deals in containers continued to get concluded.

Some bookings for P&S scrap were reported in 40 ft containers at $270/t CFR Jakarta from Malaysia and $ 285 /t Jakarta from Canada. Bids for P&S scrap stood at $270/t CFR in 40 ft and $ 275/t CFR in 20 ft containers. While fresh offers now are being reported at $ 280/t in 40 ft and $285/t  in 20 ft container.

For busheling scrap, some deals were reported at $280-285/t CFR mostly at a similar level against last week’s offers. Another booking to Indonesia included containerized HMS 1 getting sold at $ 245/t CFR Jakarta.

Thailand: Some bookings for Central American HMS were reported at $232-234/t CFR Thailand last week as per the market sources, while for Australian origin HMS 1&2 (80:20) were assessed in the range of $240-245/t CFR Thailand. 

Taiwan: HMS 1&2 (80:20) bids by Taiwanese steelmakers were reported at $225/t CFR Kaohsiung, while, offers for the same were reported at $ 230/t CFR. Japanese H1/H2 (50:50) were reported at $250/t CFR.