Imported scrap offers to Vietnam bounced back towards the end of last week, however, not many trades were reported. It has been reported that freight rates have now lowered slightly as compared to last month when numerous fluctuations were witnessed, SteelMint understands.
- SteelMint assessment for HMS 1&2 (80:20) from USA now stands at around $440-445/t CFR levels, up by $5 w-o-w
- Whereas same for Japanese H2 is now being stands at $445/t CFR levels, up by $13 w-o-w
Imported scrap trades improve in Indonesia: Imported scrap market has observed few trade activities after a lull, as the disparity in bids and offers had kept imported scrap buyers away from the market in the preceding week. Bid price for steel scrap in Indonesian market has gone up slightly last week due to the rising demand for replenishing stocks after holding for a long time.
Indicative price offers:
- Most preferred PNS grade scrap is now being cited at $447-455/t CFR Jakarta levels.
- Whereas, higher grade busheling scrap is now available at $460-465/t CFR Jakarta levels.
Market quiet in Thailand, offers inch up: Imported scrap market in Thailand remained quiet as buyers and suppliers were holding back and were waiting for prices to stabilize. Limited container availability kept market sentiments negative. Fresh offers from Central America for HMS 1&2 (80:20) are now being quoted at $385-390/t CFR levels, up by $5-10 w-o-w.
Scrap prices remain stable in Taiwan: Meanwhile, in Taiwan, imported scrap prices remained stable last week and market activities remained slow. The upcoming rainy seasons in Taiwan restrained buyers from placing fresh scrap bookings. For HMS 1&2 (80:20) fresh offers remain at $390-400/t CFR Kaohsiung.
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