SE Asia: Imported Scrap Market Remains Quiet Amid Holidays

Imported scrap offers to South East Asia remained stable amid thin trades owing to holidays. SteelMint learned from industry participants that many global yards have remained closed for ongoing winter vacations, while Japanese suppliers also remain closed till the 1st week of Jan'20.

Japanese H2 scrap offers in bulk cargoes stood at around USD 290/MT CFR Vietnam against last week offers of around USD 295/MT, CFR during last week. Offers from the USA for the bulk HMS 1& 2 (80:20) remained stable at around USD 305/MT CFR Vietnam.

Vietnam imported 4.74 MnT of ferrous scrap during Jan-Nov'19, up by 10% Y-o-Y as against 4.31 MnT of imports during the same period a year ago. Japan remained the largest exporter with a 41% share of total scrap imported by Vietnam, followed by the United States & Australia with 26% and 9% share respectively.