SE Asia: Imported Scrap Offers Continue Uptrend; Trades Slow Down

Imported scrap trades to Vietnam mostly silent as the number of offers from Japanese suppliers stood very limited, with most suppliers waiting for this month's Kanto tender's result, to give direction to the export offers. The tender is scheduled on 11 Dec'19, as per sources.

Japanese H2 scrap offers in bulk cargoes have continued to move up, with composite H1/H2 scrap presently being offered at around USD 290/MT CFR, while H2 scrap stood at around USD 282-283/MT last week.

Shindachi scrap from Japan was reported at around USD 315/MT while HS scrap from Japan is range-bound between USD 310-315/MT CFR. Few mills in Central Vietnam have bid for HS scrap at USD 310/MT CFR.

Presently, HMS 1&2 (80:20) from the USA in bulk vessels stand in the range of USD 295-300/MT CFR Vietnam, rising by USD 10-12/MT against last week, amid the ongoing global uptrend in the scrap market.

Thailand - Offers for imported scrap to Thailand, witnessed a sharp increase this week, with HMS 1&2 (80:20) from South America being reported in the range of USD 265-270/MT CFR Thailand, significantly up from USD 255/MT CFR levels last week, on account of a sharp rise in global prices after the upsurge in fresh Turkish deals.