SE Asia: Imported Scrap Prices Fall in Recent Deals
In recent conversations with industry participants, SteelMint learned that imported scrap prices to South East Asia have followed the global downturn over the last couple of weeks and moved down further by USD 10-15/MT in last 2-weeks, however, the prices have shown some stability in the last few days.
Indonesia - Imported scrap prices to Indonesia from most origins declined over the 2nd and 3rd week of Sep’19. Buyer’s bids for P&S scrap of UK as well as Brazil origin stands at USD 275/MT CFR Jakarta with few deals being reported last week, however offers were reported at USD 280/MT, CFR.
Busheling scrap from UK and European suppliers are being offered at around USD 285-290/MT, down by USD 8-10/MT, while Brazilian origin Busheling were reported at around USD 282/MT CFR. Few offers for Bluesteel stood at around USD 275/MT CFR Jakarta.
Shredded scrap from North America and Europe have fallen by another USD 10/MT with offers of USA & UK origin containerized Shredded 211 standing at USD 260/MT, CFR Jakarta while HMS 1&2 (80:20) was being offered at around USD 253-255/MT, CFR.
Vietnam: Vietnamese market continues to remain slow as participants are cautious on persisting downward trend in prices. A deal for 3,000 MT Hong Kong origin HMS (50:50) was heard at USD 244/MT, CFR basis to Vietnam. And Hong Kong origin HMS (50:50) in bulk is offered at USD 250/MT, CFR.
Japanese H2 scrap is being offered at around USD 255-260/MT CFR Vietnam, while Bulk HMS 1&2 (80:20) offers from USA stood at USD 265/MT CFR Vietnam.
Thailand - Market for imported scrap remained mostly silent on account of limited demand amid low prices of local scrap. Domestic HMS stood at around THB 7.8-8.2/KG (eq to 254-268/MT) ex-works. Thailand based trade sources reported negotiations for Indian induction grade billets
source: SteelMint
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