SE Asia: Imported Scrap Market Turns Silent on Holidays; Prices Inch Down

Vietnam and South East Asian markets are currently closed till 30th Jan'20, due to the ongoing Tet holidays and Chinese new year celebrations, respectively, and hence have not witness any trades since the closing of last week. Prior to that, few bookings concluded last week as the market continued its downside in terms of prices.

Japanese H2 scrap to Vietnam in bulk vessels were offered at USD 280-281/MT earlier last week, slightly down by USD 3-4/MT on a weekly basis, while HS scrap mostly stood at USD 308-310/MT CFR Vietnam.

Meanwhile, USA origin HMS scrap in bulk were last traded at USD 295/MT CFR Vietnam, as compared to USD 300-303/MT levels in mid Jan'20, with an expectation of slight further correction once the market reopens.

Indonesia - Last week some bookings were witnessed from various origins at slightly decreased price levels. P&S scrap in containers (20 ft) from UK was booked at USD 308/MT CFR Jakarta, down by USD 3-4/MT w-o-w, while USA origin P&S (40 ft Cont) was offered at USD 295-300/MT CFR.

Another US origin booking of Shredded scrap was reported at USD 293/MT CFR Jakarta, down USD 2-3/MT against last week. Bushelling scrap offers stood in the range of USD 318-322/MT CFR, depending on origin and bundling.