South East Asian Scrap Prices Slide Marginally in Recent Deals

SteelMint learned from market participants that imported scrap markets in major South East Asian countries observed marginal slide in prices on overall dull sentiments. However, markets observed some demand on restocking ahead of New Year holidays. Some buyers kept eyeing for a further correction in the prices.

According to sources, Japanese domestic scrap prices continue downtrend following which some buyers in the Southern region have turned active in Vietnam. However, northern steel mills remain away from buying imported scrap this week.

In southern Vietnam region, a steel mill booked a considerable quantity of Japanese H2, comprising around 10,000 MT at USD 297/MT, CFR Vietnam. Prices slide down marginally as towards the closing last week Japanese H2 was sold at USD 300-302/MT, CFR Vietnam.

Hong Kong origin offers of HMS 1&2 (50:50) stand in the range USD 300-303/MT, CFR Vietnam. While a leading steelmaker heard to have booked Hong Kong HMS 1&2 (50:50) in containers at USD 301/MT, CFR.

According to SteelMint's price assessment, USA/Europe origin, HMS 1&2 (80:20) scrap stands at around USD 323-328/MT, CFR Vietnam.

In Thailand, buying interest for HMS 1&2 scrap from Central America and West Africa origin stands at around USD 300/MT, CFR. While minor trades concluded in the range USD 300-305/MT, CFR. Shredded scrap offers stand mostly around USD 335/MT, CFR Indonesia

Key updates -

-- According to SteelMint's price assessment, USA origin HMS 1&2 (80:20) scrap stands around USD 307/MT, CFR Turkey stable as against the last report as steel mills remain unwilling to buy.

-- Price assessment for USA origin HMS (80:20) in containers stood at USD 283-285/MT, CFR Taiwan.