Import scrap prices have fallen by about $15-25/mt in Taiwan and Vietnam this week as all major suppliers have been flexible in their efforts to attract customers, who have been mainly cautious in purchases.
Offer of ex-US HMS I/II 80:20 scrap in containers to Taiwan have dropped by $10-15/mt over the past week to $235/mt CFR. At the same time, some deals have been done at $230/mt CFR, $15/mt below the level of previous transactions, SteelOrbis has learned. “Purchasing volumes were not big. I heard about 10,000 mt,” a Taiwan-based source said.
Moreover, Japanese scrap suppliers have become aggressive, taking into account their falling local demand and prices. Offers of ex-Japan HMS I/II 50:50 to Taiwan have been at $240-245/mt CFR this week, which is down by at least $15/mt week on week. Deals have been at below $240/mt CFR, sources have said.
In Vietnam, trading activity has been limited, also because of the announced rule that ships which have been in China recently should have a quarantine period of 14 days to prevent the spread of the coronavirus. The tradable level for ex-US HMS I/II 80:20 in Vietnam is assessed at $265/mt CFR, though a lack of offers has been heard. This level is about $20/mt below last week. Ex-Japan H2 offers have dropped to $250/mt CFR Vietnam, versus $270-275/mt CFR Vietnam heard last week.