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SE Asia: Imported Scrap Offers from Japan Move Up on Limited Availability

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Melting Scrap

BigMint Bureau

667 Reads

18 May 2020, 19:09 IST

SE Asia: Imported Scrap Offers from Japan Move Up on Limited Availability

Imported scrap offers to Vietnam surged this week, on rising global trend from both Japanese as well as North American export markets, on lower availability presently.

Japanese H2 scrap in bulk vessels was sold to a mill in North Vietnam at USD 256-257/MT CFR North Vietnam LC 90 days. Meanwhile, buyers in South Vietnam bid at around USD 255/MT CFR South Vietnam, LC at sight, with prices climbing up by USD 10/MT against the previous week. It has been assessed that due to material shortage, limited quantity is being offered to Vietnam, and hence the number of Japanese offers is less presently.

Japanese H1/H2 (50:50) was offered at USD 264/MT CFR, while other higher grades were not offered much last week.

USA origin HMS 1&2 (80:20) in bulk from the West Coast is currently being offered at around USD 263-264/MT CFR Vietnam, with buyers bids were around USD 256-260/MT CFR. Last week, one booking was concluded at closer to USD 260/MT CFR. Trade sources confided that due to low inventories, demand is likely to increase in Vietnam in coming days, keeping prices supported amid slow supply.

Indonesia - Multiple offers from various grades are witnessed last week as the prices moved up on a weekly basis.

Bushelling scrap is being offered in 20 ft containers at USD 265-267/MT CFR Jakarta from different origins, with Malaysian origin Bushelling standing at USD 266/MT CFR level.

P&S scrap in 20 ft containers is being offered at USD 250-255/MT CFR Jakarta, while Bluesteel in 20 ft containers from Brazil was offered at USD 255/MT CFR yesterday, while other origin bluesteel were offered in the range of USD 255-260/MT CFR Jakarta.

Also, Rebar bundles offers were reported at around USD 265-270/MT CFR Jakarta in 20 ft containers from Hong Kong.

Taiwan - HMS 1&2 (80:20) in 20 ft containers were offered to Taiwan at around USD 220-223/MT CFR Taichung/Kaohsiung.

Thailand - HMS 1&2 was reported at around USD 225-230/MT CFR Thailand, up by USD 5/MT W-o-W. Additionally, car Body Bundles were offered at USD 150/MT CFR and No. 2 Bundles at around USD 200/MT CFR.