SE Asia: Imported Scrap Offers Up Following Global Uptrend
Vietnam imported scrap offers up USD 5-10/MT W-o-W: Offers for imported scrap to Vietnam have observed a slight increase this week on account of ongoing strengthening in the Japanese scrap market as well as the recent surge witnessed in fresh trades to Turkey.
Japanese H2 scrap offers in bulk cargoes have continued to move up this week, and stood at around USD 295/MT CFR Vietnam against USD 282-283/MT CFR Vietnam last week. Current offers for H1/H2 scrap is at around USD 300/MT CFR Vietnam, up USD 10/MT W-o-W.
Shindachi scrap of Japan origin was reported at almost same levels as last week, at around USD 315/MT CFR Vietnam, on the other hand, the other higher grade - HS scrap from Japan observed a surge in offers, reaching USD 320/MT CFR North Vietnam.
HK 50/50 from Hong Kong is being offered at around USD 285/MT CFR South Vietnam. Offers from USA for containerized HMS 1&2 (80:20) was reported in the range of USD 278-280/MT CFR Vietnam.
Offers to Thailand inch up : Imported scrap offers to Thailand witnessed an increase this week, with HMS 1&2 (80:20) from Central America being reported in the range of USD 270-273/MT CFR Thailand, up by USD 5-10/MT CFR levels last week, following the global uptrend. Whereas, no offers for shredded scrap were reported.
Indonesia buyers await clarity on new import regulations: After the new regulations imposed on import of ferrous scrap- from 23rd Nov’19, trades for deep sea cargoes have yet not started in the country. Buyers are looking for more clarification on the same, while few buyers are bidding for scrap from nearby origins including bids for P&S scrap at USD 300/MT CFR level from Singapore.
source: SteelMint
Related News
Top News
Glencore in talks to sell Philippine copper smelting unit
Rasul Khalife Soltani, Secretary of the Iranian Steel Producers Association on the sidelines of the 1403 Steel Symposium:
Mobarakeh steel is producing green steel through scrap recycling
Norilsk Nickel plans to sell all it produces in 2025
Volkswagen buys 9.9% of Patriot Battery Metals for $48 million
India’s record gold import said to be due to calculation error
Sibanye raises $500m via metals streaming deal with Franco-Nevada
Norge Mining acquires Europe’s largest natural graphite producer
Aluminum price falls to one-month low in wider commodity slump
Skeena advances Eskay Creek permitting, unlocks Orion funding
Lure of Anglo’s copper mines could test BHP’s spending resolve
Copper giant Peru foresees another production plateau in 2025
Iron ore price weakens as Australia flags return to sub-$100 prices
Nickel price hits 4-year low as gloom offsets potential Indonesia cuts
Mercuria partners with Zambia on metals trading venture
Sibanye raises $500m via metals streaming deal with Franco-Nevada
Triple Flag to acquire royalty on Tres Quebradas lithium project
Volkswagen buys 9.9% of Patriot Battery Metals for $48 million
Aluminum price falls to one-month low in wider commodity slump
India’s record gold import said to be due to calculation error
Lure of Anglo’s copper mines could test BHP’s spending resolve
Iron ore price weakens as Australia flags return to sub-$100 prices
Nickel price hits 4-year low as gloom offsets potential Indonesia cuts
Sibanye raises $500m via metals streaming deal with Franco-Nevada
Triple Flag to acquire royalty on Tres Quebradas lithium project
Volkswagen buys 9.9% of Patriot Battery Metals for $48 million
Aluminum price falls to one-month low in wider commodity slump
India’s record gold import said to be due to calculation error
Glencore in talks to sell Philippine copper smelting unit
