Other Elements and Materials

South East Asian Scrap Market Observes Less Deals Amid Disparity Between Bids & Offers

South East Asian Scrap Market Observes Less Deals Amid Disparity Between Bids & Offers
Mining News Pro - SteelMint learned from market participants that imported scrap markets in major South East Asian countries like Vietnam, Indonesia and Thailand have witnessed marginal correction in prices amid limited trades concluded last week. Offers from largest supplier - Japan seem to have reached temporary peak with indications of turning down in upcoming days.
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According to Mining News Pro -SteelMint learned from market participants that imported scrap markets in major South East Asian countries like Vietnam, Indonesia and Thailand have witnessed marginal correction in prices amid limited trades concluded last week. Offers from largest supplier - Japan seem to have reached temporary peak with indications of turning down in upcoming days. However, Japanese prices remained high as compared with other origins.

Vietnamese market turns slow - In the recent deal, Hong Kong origin bulk HMS 1&2 (50:50) sold at USD 345/MT, CFR Vietnam which has come down by USD 4-5/MT on W-o-W basis.

Offers for Japanese H2 were reported stable at USD 355-356/MT, CFR Vietnam. While a bulk offer for Shindachi grade scrap from Japan was heard at USD 427/MT, CFR Vietnam

Offers for HMS 1&2 (80:20) from Australia and UK heard at around USD 340-345/MT, CFR Vietnam down USD 5/MT W-o-W. However buying interest stands below USD 10-15/MT than current levels.

Indonesian scrap importers booked limited cargoes - Brazil origin containerized HMS 1&2 (90:10) sold at USD 350/MT, CFR Jakarta, Offers for Australian origin HMS 1&2 (80:20) heard at USD 345/MT, CFR Jakarta.

Central American origin containerized HMS 1&2 (70:30) was concluded at USD 319-320/MT, CFR Thailand as against USD 323-324/MT last week.

Taiwan`s imported scrap prices edge down further - Price assessment for USA origin HMS (80:20) stands at USD 328/MT, CFR Taiwan in containers. In the deal concluded 1000-2000 MT containerized HMS 1&2 (80:20) sold at USD 328/MT, CFR Taiwan.

Bulk offers for Japanese HMS 1&2 (50:50) were being quoted in the range of USD 355-360/MT, CFR Taiwan. While offers for USA origin HMS 1&2 (80:20) heard at USD 335/MT, CFR Taiwan.

Few buyers in South East Asian markets remained less active and holding back on possibility of further weakening. Demand in India and Pakistan markets remains slow on currency issues while global prices are likely to remain supported.

 


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