SE Asia Imported Scrap Market Update - Week 42, 2019

Vietnam, one of the leading ferrous scrap importers in Asia witnessed a continuing drop in prices of imported scrap, even as global prices have now started to rebound. Offers from Japan and North America moved down, while the market is careful on global uncertainties currently.

Japanese H2 scrap is being offered at around USD 242-245/MT CFR Vietnam, down USD 5-8/MT against the previous week. However, higher grade scrap from Japan saw an only marginal decline in prices with HS at USD 280-285/MT and Shindachi scrap at USD 275/MT CFR Vietnam, in bulk vessels.

North American origin scrap offers also moved downwards, with US bulk HMS (80:20) currently being reported at around USD 253 CFR Vietnam, while P&S offers in containers stood at USD 262/MT ex USA, however, recent rebound in global prices may reflect in offers to Vietnam in the coming days.

Indonesia- Indonesia scrap prices have moved up by USD 5-10/MT for different grades. Bids for P& S scrap have moved up this week from USD 265 last week to USD 270-275/MT depending on origin, while that of Blue Steel is around USD 275-280/MT, CFR.