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.