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
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