Vietnam: Japanese Imported Scrap Prices Up in Recent Deals

Imported scrap trades to Vietnam picked up last week, with a few major bookings being reported from Japan, even as high currency exchange rate last week moved prices upwards.

2 bulk bookings from Japan comprising of 5,000 MT of H2 scrap each, were concluded last week at USD 255/MT CFR north Vietnam, with currency Japanese yen appreciating sharply during mid last week, being attributed as the main reason for the high prices. JPY closed at around 105 against USD towards closing of last week, versus 108-110 level in the previous couple of weeks.

Currently, H2 bulk offers from Japan stand at USD 250/MT CFR Vietnam, down by USD 5/MT, however, buyers are now targeting USD 245/MT CFR level for Japanese H2. Offers for higher grade Shindachi stands at USD 277/MT CFR Vietnam, while Shredded offers were lesser in the market.

USA origin bulk HMS 1&2 (80:20) in bulk to Vietnam is being offered at USD 282-285/MT CFR Vietnam, however, few offers for HMS 1&2 (80:20) from Australia were reported at USD 272/MT CFR in bulk

Indonesia - P&S offers to Indonesia stand range-bound depending on origin of material. European origins are offering P&S at USD 290-295/MT CFR Jakarta, while nearby origins like Malaysia were reportedly offering P&S at USD 280/MT level. Last week, Hong Kong origin P&S was sold at USD 282/MT CFR Jakarta in containers (20').

Thailand - HMS 1&2 from Central American origins is being offered in the range of USD 240-247/MT *CFR Thailand, as per grade and origin.