Vietnam: Imported scrap offers up over $50 w-o-w, limited trades reported

Imported scrap offers to Vietnam rose considerably week-on-week (w-o-w) on 17 May'21 compared to 10 May'21. Notably, trades for Japanese scrap remained subdued as suppliers raised scrap export offers post the Golden Week holidays and Kanto tender results concluded last week. Meanwhile, limited trades have been reported for deep-sea cargo from the U.S.

• Fresh Japanese H2 bulk scrap offers are quoted at $530-540/tonne (t) CFR Vietnam, registering a sharp hike of $55 over last week. Prices are highest since the data maintained with SteelMint since mid-Jul'19.
  
  
• Sources highlighted that a U.S.based scrap supplier sold a bulk HMS scrap cargo to Vietnam at around $540-545/t CFR Vietnam. Offers have moved up significantly by over $55/t against last week.
  
  

Vietnam billet export offers up on global trend: BF-route billet export offers from the country were heard at $800/t FoB, up by around $50 w-o-w.

Vietnam steel market in Apr'21: The production and sale of steel products in the first four months of 2021 (Jan-Apr'21) increased significantly as per a report released by the Vietnam Steel Association (VSA). Production and sales figures for Apr'21 are as follows

• Production of steel reached 2,819,655 t, decreasing by 4.75% month-on-month (m-o-m) but up 52.2% against the corresponding period last year (CPLY).
  
  
• Sales of steel of all kinds reached 2,703,395 t, down 6.22% compared to Mar'21, but increased by 56.7% over CPLY.
  
  

Indonesian scrap trades slow amid holidays: The global market is bullish since last week. Following the global price trends, imported scrap prices to Indonesia crossed $500/t for the most preferred PNS scrap grade despite the fact that the market is largely in a holiday mood, a prominent trade source said.

Indicative imported scrap offers:

• Hong Kong origin PNS is at $515-525/t CFR Jakarta up by $25-30/t w-o-w.
  
  
• HMS 1&2 (80:20) is assessed at $480/t CFR Jakarta.
  
  

Thailand imported scrap offers up by $15/t: With the continuous hike in imported scrap prices, Thailand-based steelmakers and buyers have slowed down market activities. Central America origin HMS 1&2 (80:20) prices moved up by $15-20/t to $430-435/t CFR Thailand, whereas Australian HMS stands at $450/t CFR Thailand. However, no bulk bookings were reported.

Imported scrap offers up further in Taiwan: Taiwan's imported scrap offers have moved up further despite slow trades.

Recent offers are as follows:

• HMS 1&2 (80:20) is at $460-465/t CFR Taichung
  
  
• Shredded 211 stands at $470-475/t CFR Taichung