Stronger scrap demand in Asia has led to a sizable price rise in the region this week, with deals done in South Korea and Vietnam. Taiwanese customers have been also interested in buying, but contracts have been signed with only a slight increase. Offers for HMS I/II (80:20) from the US and EU have been mostly heard at $285/mt CFR Vietnam, up $10/mt compared to last week. A deal for ex-US shredded scrap has been heard at $295/mt CFR. The tradable value for Japanese H2 scrap has increased by $5-10/mt over the week to $270-280/mt CFR Vietnam. All prices are for bulk shipments.
At the same time, the price increase for container scrap has been less sharp. Offers for ex-US HMS I/II (80:20) in containers have been at $258-260/mt CFR Vietnam, while prices for the same grade of ex-South America scrap have been voiced at $255/mt CFR Thailand.
Deals for ex-US HMS I/II (80:20) in containers to Taiwan have been made at $252/mt CFR this week, just $2/mt above the transaction level last week. “Offers stayed at $255/mt CFR this week, but suppliers had to give some discounts to conclude deals. Next week, prices will further go up and I expect deals at $255-256/mt CFR,” a Taiwanese steel producer told SteelOrbis.
