SE Asia: Imported scrap offers rise following global uptrend

Imported scrap market in SE Asia observed a further hike in scrap offers. Offers to Vietnam for imported scrap have increased on a weekly basis with few trades being reported. On the other hand, Indonesia observed some trade activities increased price.

Vietnam: Trades to Vietnam slowed down amid increasing imported scrap offers from Japan. Offers for Japanese H2 scrap in bulk being offered at $280/t and $275/t CFR to North and South Vietnam respectively, increasing by $5-8/t in comparison with $268-270/t CFR were reported during the opening of the last week, however, no major deals were yet.

Other higher Japanese grades such as HS is being offered at $295-300/t CFR level, and Shindhachi now stands at $ 303-307/t CFR Vietnam.

Also, fresh bulk offers for USA origin HMS 1&2 (80:20) being reported at $285/t CFR Vietnam.

Indonesia: Imported scrap offers to Indonesia hit over four months high since Mar '20 and buyers are actively buying at an increased price level.

Last week, a 20 ft container consisting of P&S got booked at $290/t and busheling scrap at $300/t CFR Jakarta basis. P&S offers in 20 ft containers are in the range of $295-297/t CFR Jakarta, increasing significantly by $10-12/t as compared to $ 285/t CFR Jakarta were reported last week, while 40 ft container deals stood at $ 290/t CFR Jakarta.

Likewise, for busheling scrap in 20 ft containers stands at around $ 300-305/t CFR Jakarta, up by $5-10/t on a weekly basis.

Offers for shredded 211 to Indonesia stands at $275-280/t CFR Jakarta, whereas, HMS 1&2 (80:20) is being offered at $260/t CFR Jakarta.

Thailand: Australian origin HMS 1&2 (80:20) offers have slightly increased last week, and was reported at $250/t CFR level. Offers form Central American HMS 1&2 (80:20) remained below $240/t CFR Thailand.