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SE Asia - Imported Scrap Offers Continue Uptrend; Buyers Wary

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Melting Scrap

BigMint Bureau

619 Reads

25 May 2020, 18:43 IST

SE Asia - Imported Scrap Offers Continue Uptrend; Buyers Wary

Trades in all SE Asian markets remained subdued due to successively increasing offers on improved sentiments in exporters' markets, while mills looked to hold the prices down by biding low.

Vietnam - Imported scrap offers to Vietnam moved up further as global export market from both Japan as well as North American origins continued to strengthen, while buyers kept their bids lower resulting in very limited trades getting concluded last week.

Japanese H2 scrap price in bulk stayed in the range of USD 255-260/MT CFR over last week and fresh offers now stand at USD 260/MT CFR Vietnam, up by another USD 5/MT against the previous week. Bids from buyers in South Vietnam however, were not witnessed above USD 250/MT CFR, while buyers in North Vietnam bid for H2 at USD 255-256/MT CFR, trying to resist the sharp rise.

Higher Japanese grades too followed the trend, with HS scrap being assessed in the range of USD 280-285/MT CFR last week and now stands at USD 285-287/MT CFR for North Vietnam, while Shindachi scrap offers were observed at USD 287-290/MT CFR.

USA origin HMS 1&2 (80:20) in Bulk offers stand at around USD 265/MT CFR, marginally up by USD 3/MT against the previous week, while containerized HMS 1&2 (80:20) from USA is being reported at USD 240/MT CFR Vietnam.

Indonesia - Few bookings for Bushelling scrap were concluded at USD 270/MT CFR Jakarta in 20 ft containers, up by USD 5-10/MT in comparison the deals in the previous week.

P&S in 20 ft containers was offered at around USD 260/MT CFR Jakarta, increasing by USD 5/MT against last week, while USD 255/MT CFR for 40ft containers.

Thailand - Central American HMS 1&2 (80:20) offers in 20 ft containers stood at USD 230/MT CFR Laem Chabang, while bids for the same were reported at around USD 227/MT CFR. Additionally, Australian origin Clean no. 1 Bales in 20ft containers are being offered at USD 220/MT CFR Laem Chabang.

Malaysia - Shredded 211 offers stood at USD 255/MT CFR Klang in 20 ft containers, while bids for Shredded were recorded at USD 250/MT CFR Klang.