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SE Asia: Imported scrap market exhibits mix trends

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Melting Scrap

BigMint Bureau

542 Reads

22 Jun 2020, 18:56 IST

SE Asia: Imported scrap market exhibits mix trends

Imported scrap market in South East Asia showed mixed trends last week. On one hand, Vietnam witnessed trades getting slower and offers moving down, while on the other hand, Indonesia witnessed good buying activities at slightly increasing prices. Thailand meanwhile, witnessed stability in offers.

Vietnam - Imported scrap offers to Vietnam witnessed a downturn over the last one week, with buyers bidding at considerably low levels, pulling the prices down. The low prices of billet and finished steel created pressure on steelmakers, who were resisting the sharp rise in Japanese origin offers earlier in the month.

Japanese H2 offers in bulk are now being offers at around $ 267-268/t CFR to South Vietnam buyers, while South buyers are bidding at $263-265/t CFR levels. At last week's closing, the offers for H2 were around $270/t for South and $275/t for North Vietnam buyers, CFR basis, in comparison to the $275-278/t bookings in the previous week. Trades remained slow, with one booking earlier in last week concluding at $270/t CFR South Vietnam for H2, post which prices inched down further.

Among higher grades, HS scrap is being offered at $292/t and ShinDachi scrap at $288/t CFR North Vietnam, while demand from buyers has slumped down, on tight margins of finished steel.

USA origin HMS 1&2 (80:20) in bulk is being offered at $ 275-279/t CFR Vietnam, with just one booking getting closed at the lower end of this range. Against the previous week, prices have slightly inched down by around $3-4/t

Indonesia - A good number of deals in containers got concluded to Indonesia over the last week, even as offers continued slowly moving up. P&S offers were recorded at $280/t and $284/t CFR Jakarta for 40 ft and 20 ft containers respectively, moving up by around $5/t one week ago, with several deals getting reported at around $280/t level, CFR.

Bushelling scrap offers were reported at $285-290/t CFR Jakarta, against $280-285/t CFR range last week. Shredded scrap to Indonesia in containers was assessed at $255-257/t CFR Jakarta.

Thailand - Buyers in Thailand expect some drop in prices of imported scap in the coming days, and are watching the trend before making major bookings. Offers for Central American HMS were recorded at $255/t CFR Thailand, mostly stable against last week, while Australian origin HMS 1&2 (80:20) were offered at $265/t CFR.

Taiwan - Offers for HMS 1 from most origins stood at around $ 255-257/t CFR Kaohsiung, while HMS 1&2 (80:20) offers mostly stood at $245/t levels CFR.