Imported scrap offers to Vietnam dropped sharply over the last week, due to limited interest witnessed from the buyers after a sharp fall in global prices during the middle of last week. Most buyers are not bidding on anticipation of further drop in offers.
Japanese H2 scrap offers fell by over USD 10/MT on a weekly basis and presently stand at around USD 240/MT CFR Vietnam. Offers for Shindachi scrap stood at USD 274-275/MT CFR with few bookings getting reported at this level later in last week, while Japanese P&S was assessed at around USD 270/MT CFR.
USA origin HMS 1&2 (80:20) in bulk was offered at USD 268-270/MT CFR Vietnam, down by USD 12-15/MT against last week, however buyer’s bids stand significantly lower, at around USD 250/MT after the last week’s plunge, thus no trades were concluded last week.
Indonesia – Bids for P&S scrap were witnessed at USD 275/MT CFR Jakarta, down by USD 19-15/MT against last week, while Busheling scrap had few bids recorded at USD 285/MT CFR.
Thailand buyers reported very limited buying interest on COVID-19 outbreak, with no fresh offers reported to the country by suppliers.
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