Following recent lower-priced deals for imported scrap in South Korea, offers prices from major exporters have declined for Vietnamese and Taiwanese customers.
Ex-Japan H2 scrap prices have lost $5/mt over the past week to $275/mt CFR Vietnam, SteelOrbis has learned. Negotiation have been heard at an even lower level - up to $270/mt CFR, but overall demand has remained limited, as customers have been waiting for additional discounts.
The price level for ex-US HMS I/II 80:20 to Vietnam has also declined, falling by $5-10/mt to $285/mt CFR, but customers have been asking for $280/mt CFR. Some small tonnages of the same grade scrap in containers have been offered at $250/mt CFR and may attract some interest, sources said.
Offers for containerized ex-US HMS I/II 80:20 to Taiwan have been heard even at the lower level of $245/mt CFR, which is $5-10/mt below offers last week and in line with the rare deals signed before the Chinese New Year holiday. “But there are no takers,” a trader said. Customers in Taiwan have started to come back to the market on Thursday, January 30, after the holidays, but buying interest has been limited by expectations of a further price decline and by coronavirus fears.
