Scrap suppliers from US still bullish in Asia, demand seen in Thailand, Vietnam

Friday, 08 November 2019 15:14:08 (GMT+3)   |   Istanbul
       

Ex-US scrap prices have moved up again this week in some Asian countries. Though customers from Taiwan have been reluctant to accept the additional increase, trading activity has improved in Southeast Asia, in Vietnam and Thailand in particular.

A bulk deal for ex-US HMS I/II (80:20) has been closed to Thailand at $282/mt CFR. The traded volume is about 30,000-35,000 mt, sources said. Following the transaction at such a high level, offers ex-US to Vietnam have started to come at $275-285/mt CFR, up $10-15/mt compared to last week. While buyers have been not ready to buy from the US, overall demand from Vietnamese customers has improved and they have concluded deals for Japanese H2 scrap at $265/mt CFR, the higher end of the price range announced by suppliers last week.

At the same time, trading activity is still limited in Taiwan with only small volumes for ex-US HMS I/II (80:20) in containers booked at $245/mt CFR, almost in line with transactions last week. Though suppliers voiced offers at $245-248/mt CFR this week, bids are still close to $240/mt CFR.   


Most Recent Related Articles

Sentiment turns bearish in Taiwan scrap market, US-Japan price gap narrows

Scrap prices rise sharply in Asia in offers and deals, buyers take their time

Taiwan’s scrap imports up 19.7 percent in January-May

Import scrap prices in Taiwan pushed up by tight supply, rapid hike by Japan

Pakistan resumes bulk scrap purchases, prices rises for containerized scrap