[STEELMINT] SE Asia: Imported scrap offers up following global trend

29/07/2020 -Postby :

Imported scrap market in SE Asia witnessed a rise in scrap offers this week. Imported scrap offers for Vietnam have increased by around $5/t w-o-w, however buyers are not so active due to fall in the prices of rebar. On the other hand, Indonesia observed good trade activities due to the increase in scrap prices. Meanwhile, for Thailand and Taiwan very few trades were observed this week and for buyers Thailand domestic market is still a preferable choice.

Vietnam: Imported scrap prices to Vietnam continued to rise for yet another week as Japanese suppliers continuing to push export offers up. Japanese H2 scrap offers for bulk are being offered at around $ 268-270/t CFR to North Vietnam buyers, while no fresh deals have been concluded at the price levels.

Similarly, fresh offers for the other higher grades from Japan such as HS and Shindhachi now stood at $ 295/t CFR Vietnam for this week, while buyers are bidding at $ 290/t CFR.

Indonesia: Indonesian market is an attractive destination this week. Imported scrap prices to Indonesia keeps increasing from mills. However, deals in containers continued to get concluded.

P&S offers in 20 ft containers were witnessed at $ 285/t CFR Jakarta, while 40 ft container deals stood at $ 280/t CFR Jakarta.

Similarly, for Busheling scrap, deals in 20 ft containers were reported at $ 295/t CFR Jakarta, significantly increased against previous week.

This week offers for shredded 211 to Indonesia stood at $275/t CFR Jakarta, while bids were reported at $270/t CFR Jakarta.

Thailand: Central American HMS scrap offers for HMS 1&2 (80:20) stand at $235/t CFR Thailand.

Taiwan: HMS 1&2 (80:20) bids by Taiwanese steelmakers were booked at $235/t CFR Kaohsiung, while offers for the same were reported at $ 240/t CFR.


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