Vietnamese import scrap market has remained firm this week with Japanese and ex-US scrap quotations moving sideways. Limited scrap availability as well as the high sea vessel freight rates are supporting the current price levels, market sources report. Also, Japanese scrap quotations are finding support from the exchange rate and from the firm domestic market.
Market sources report that there have been continued deals done by Vietnam last week at $325/mt CFR for the ex-Japan H2 grade scrap. With their domestic scrap market being strong, Japanese sellers’ offers to Vietnam for this grade is now around $330/mt CFR, slightly higher than last week.
Unchanged for weeks now, ex-US bulk HMS I/II 80:20 scrap offers have moved sideways at $350/mt CFR Vietnam once again. Sources report that workable levels are still at around $340s/mt CFR.
This week, the Tokyo Bay FAS-based prices for H2 grade scrap have increased by JPY 1,000/mt week on week to JPY 42,500/mt ($276/mt), up by $5/mt on dollar basis. The FOB-based export price remains at JPY 43,500/mt ($282/mt) for the grade in question, up by $4/mt week on week.
The Tokyo Bay HS grade scrap price has moved up by JPY 1,000/mt or up by $5/mt week on week to JPY 46,500/mt ($302/mt) FAS, while shindachi scrap price has also increased by JPY 1,000/mt or up by $4/mt to JPY 46,000/mt ($298/mt) FAS.
$1 = JPY 154.20
