BigMint is a Market Intelligence and Price Reporting firm that caters to the data and analytics requirements of businesses in the commodities sector. It publishes real time prices and information, which is impartial, independent and reliable, sourced from all industry interfaces – sellers, buyers, agents and traders. This data is filtered and passed through very stringent, calculative assessments before final prices are derived, thereby giving our clients accurate pricing.

Go to List

Imported Scrap Offers to Vietnam Decline; Market Awaits Kanto Tender Results

...

Melting Scrap

BigMint Bureau

836 Reads

9 Mar 2020, 15:26 IST

Imported Scrap Offers to Vietnam Decline; Market Awaits Kanto Tender Results

Japanese scrap offers to Vietnam continued to move down this week. The offers have decreased by around USD 7/MT W-o-W.

Japanese H2 scrap offers in bulk have now come down to around USD 245/MT CFR Vietnam, against last week's report of USD 251-252/MT CFR. Currently, Japanese suppliers are holding back for a clear market direction.

Market participants are also waiting for Japan's Kanto Tender result which is scheduled to take place on 11 Mar'20.

Meanwhile, USA origin HMS 1&2 (80:20) scrap in bulk is being offered at USD 285/MT CFR, slightly lower than USD 288/MT levels last week.

Japan's Tokyo Steel lowered its scrap purchase price twice last week. 1st price cut was announced on 03 Mar'20 by JPY 500/MT for its Kyushu & Utsunomiya works and the second price cut was announced on 06 Mar'20 for Kyushu works by JPY 500/MT.