Imported scrap market for South East Asia observed less buying activities in recent days with offers dropping slightly over the last week. While few trades were reported last week at a low prices.
Vietnam: Imported scrap offers to Vietnam continued to fall on a weekly basis, especially from Japan origin as the Japanese scrap market continued to crash with no bottom in sight. Few deep sea cargo bookings got concluded from the USA and Japan at a further decreased price.
Price for Japanese H2 scrap for bulk, fell by around $10-11/t over the last week, as a deal was concluded at $ 241/t CFR, to a South Vietnam steel mill, and another booking to North Vietnam at $ 247/t CFR Vietnam, down by $6-7/t against booking in the previous week.
Prior to this, two deals getting concluded at $ 252/t CFR and $253/t CFR to a South and North Vietnam based mill respectively, in the closing of last week.
Fresh offers for Japanese H2 were reported in the range of $245-250/t CFR, whereas many trades kept away from offering in the recent days, waiting for Japan’s Kanto export tender result, expected to conclude later this week.
Higher grades from Japan such as HS and Shindhachi are reported in the range of $ 275-277/t CFR Vietnam.
USA origin HMS 1&2 (80:20) in bulk is being reported at $265/t CFR Vietnam, down by $5/t against the offers during the opening of last week at $270/t CFR. A deep sea bulk cargo was booked for HMS 1&2 (80:20) at $265/t CFR by a Vietnamese mill.
Indonesia: Imported scrap offers to Indonesia remained almost stable this week. However, no major bookings were reported in comparison to active trade witnessed in the previous couple of weeks.
Offers for Busheling scrap in 20 ft containers were reported at $280/t CFR Jakarta, mostly at a similar level against last week’s offers. P&S scrap offers slightly moved down at $275/t CFR Jakarta in 20 ft container, down by 5/t on a weekly basis.
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