Thailand Steel Mill Books Bulk Scrap Cargo from US

SteelMint learnt from market participants that the bulk market in South East Asia turned active amid recent bookings reported. Earlier this week, a prominent steel manufacturer in Thailand has booked a bulk scrap vessel from a major Scrap Cargobased recycler.

The 30,000 MT cargo comprising of Shredded scrap in entirety and is reportedly booked at around USD 288/MT CFR Thailand. The shipment for the same is expected in November while the vessel is likely to arrive at berth by Dec’19. Bulk vessel offers to South Asia also stand in the range of USD 290/MT CFR Chittagong and CFR Kandla for Shredded scrap.

Ferrous scrap imports to Thailand have remained stable in Sept’19 as it imports 0.11 MnT scrap in the month, same as the previous month. However, on a yearly basis, scrap imports have decreased by 89% from 0.16 MnT registered during the same period a year ago, according to data maintained with SteelMint.

During the period of Jan-Sept’19, ferrous scrap imports witnessed a sharp decline of 28% Y-o-Y to 0.72 MnT as against the same period in 2018 when it stood at 1.23 MnT.

The United States remained the largest scrap supplier to Thailand, as it supplied 0.03 MnT scrap in Sep’19 with 27% share in total scrap imports by Thailand, remaining unchanged as compared to the previous month. Followed by other major suppliers like Panama, Trinidad & Tobago & Australia which supplied 0.01 MnT of scrap with 9% share each, in total scrap imports by Thailand.