SE Asia: Imported Scrap Offers Move Up; Limited Bookings Reported

Imported scrap offers to Vietnam have rebounded this week with improved buying activities observed.

Japanese origin H2 scrap was offered to a South Vietnam Steel mill at USD 220-222/MT CFR Vietnam, which was significant rise in comparison to the USD 210/MT bookings to South Vietnam in the week before. Another North Vietnam steelmaker bid for Japanese H2 at USD 228/MT CFR, as offers from Japan witnessed a rising trend.

Another booking of Japanese H1/H2 (50:50) was concluded at USD 238/MT CFR in the week to a North Vietnam mill, which is at least USD 6-8/MT higher than previous weeks. A booking of HK (50:50) from Hong Kong was reported at USD 226/MT CFR South Vietnam.

Indonesia - Imported scrap trades remained slow due to a huge difference between offers from suppliers and buyers' bids, PNS offers in 20ft containers from Hong Kong and UK stand at USD 248/MT and USD 246/MT CFR Jakarta, while buyers are bidding at USD 230/MT level for PNS from most origins.

HMS 1&2 (90:10) from Australia in 20 ft containers from Australia is being offered at USD 230/MT CFR, while buyers's bids for HMS stand in the range of USD 210-220/MT CFR depending on quality. Containerized bushelling offers from the USA stood at USD 240-245/MT, with no bids.

Indonesia imported around 82,256 MT of ferrous scrap in Feb'20, down by 16% M-o-M against around 97,700 MT imported in Jan'20. Indonesian ferrous scrap import statistics have recently been added to SteelMint website and can be accessed here

Thailand - Last week central American HMS 1&2 (80:20) was sold at USD 205/MT CFR, with offers rising to USD 230/MT, CFR this week no new fresh deals observed.