Japanese scrap suppliers have been successful in sales this week as customers in South Korea and Vietnam have showed moderate interest in purchases. Offers of Japanese H2 scrap have been stable at JPY 24,000-24,500/mt ($221-225/mt) FOB. A deal to South Korea has been signed at JPY 24,000/mt ($221/mt) FOB or about $240-245/mt CFR following a long break.
Offers for ex-Japan H2 have been stable in Vietnam this week at $265-270/mt CFR with some small tonnages being traded at the lower end of the range, similar to last week. Offer prices for bulk cargoes of ex-US HMS I/II (80:20) are still above $275/mt CFR Vietnam.
Some traders said that Hong Kong’s scrap exports to Southeast Asia has been hit by recent political issues, and so Vietnamese buyers have been more interested in purchases from Japan.