SE Asia: Imported Scrap Offers remain Stable in Recent Trades

Imported scrap trades to South East Asia moved up last week, with several bookings in Bulk and as well containers being reported even as prices slightly inched up further, amid relative stability observed in the global scrap market recently.

Vietnam - Fresh offers for Japanese H2 scrap in Bulk were observed to inch up, standing at USD 268/MT CFR South Vietnam and USD 271/MT CFR North Vietnam, while Shindachi offers stand at USD 300/MT CFR. Few mills in the southern region have kept their bids for Japanese H2 in Bulk at USD 265/MT CFR.

Last week, bookings for 10,000 MT of Japanese Busheling scrap were reported at USD 287/MT CFR N. Vietnam while 6,000 MT Singapore origin HMS (80:20) was sold at USD 275/MT CFR. Few bookings of containerized HMS 1&2 (80:20) from US were concluded at around USD 245/MT CFR South Vietnam.

Indonesia - USA origin Shredded in containers to Indonesia are presently being offered at around USD 295/MT CFR Jakarta, while offers for Shindachi scrap from Japan were reported at USD 310/MT CFR.

The recently proposed scrap import regulations by Indonesian govt, to be imposed from 23rd Nov which disallows trans-shipments is likely to affect deep-sea cargo scrap imports to the country and shift the preference to nearby origins like Singapore and Hong Kong.

Taiwan - Bulk H1:H2 from Japan is now being offered in the range of USD 265-270/MT CFR Taiwan, while last week few bookings of the same were concluded at USD 263/MT CFR.

Several deals of USA origin HMS 1&2 (80:20) in containers were also reported last week, with around 5,000 MT in total being booked in the range of USD 245-248/MT CFR, while the offers are currently hovering up to USD 245-250/MT CFR.

Thailand - Offers for HMS 1&2 (80:20) from Central American origins were reported at around USD 250/MT CFR Thailand.