SE Asia: Imported scrap trades turn bearish on increased offers

South east Asia's imported scrap trades slowed down after sharp hike in Japanese scrap offers. Vietnamese buyers and steelmakers remained dull last week to book any bulk cargo from Japan, as imported scrap offers have increased sharply. Offers to Indonesia mostly remained similar as preceding week, however, no significant deal was reported last week.

Vietnam's scrap buying turns slow - Buyers have adopted 'wait & watch' approach before making any bulk scrap purchases after seeing sharp hike in Japanese export offers following Kanto tender price surge.

• SteelMint's assessment for Japanese bulk H2 stands at $295-300/t CFR level, up by around $17 against last week's assessment reported at $280/t CFR Vietnam.
  
  
• In a fresh deal reported, a Vietnamese steelmaker booked Japanese HS bulk cargo at around $320/t ex-Japan basis.
  
  
• Other higher grade Japanese scrap HS and shindachi are being offered in the range of $325-330/t CFR level.
  
  
• HMS offers from USA to Vietnam in bulk have decreased by around $10 w-o-w and currently stands at $295/t CFR basis against $307-310/t CFR level reported in last week's report. Though, no firm deals have been concluded at this level.
  
  
• Offers from USA for other grades like PNS (in 40ft container) have also reported at $300-305/t CFR basis. Whereas, HMS in containers is being sold at $275-280/t CFR level.
  
  

Indonesia imported scrap offers firm: Indonesian buyers are hesitant to buy at higher level offers however, offers mostly remained same as a preceding week.

• P&S offers in 20 ft containers were being offered $305/t CFR Jakarta last week.
  
  
• Whereas, P&S in 40 ft containers remained in the range of $290-295/t CFR Jakarta.
  
  
• Busheling scrap offers in 20 ft containers are at around $ 315/t CFR Jakarta.
  
  
• HMS 1&2 (80:20) sales were reported at $275-280/t CFR Jakarta basis.
  
  
• Also, shredded 211 offers reported at around $290-295/t CFR Jakarta.