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Imported Scrap Markets in SE Asia Observe Limited Deals on Slow Demand

Imported Scrap Markets in SE Asia Observe Limited Deals on Slow Demand
Mining News Pro - Imported scrap offers to Vietnam inch down - SteelMint learned from market participants that imported scrap offers to Vietnam have come down slightly by USD 3-5/MT W-o-W on limited demand.
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According to Mining News Pro -Imported scrap offers to Vietnam inch down - SteelMint learned from market participants that imported scrap offers to Vietnam have come down slightly by USD 3-5/MT W-o-W on limited demand. Steel mills in the Northern region have remained silent for imported scrap booking since last two weeks, on the other hand buying interest remains good among steel mills in the Southern region. Although market remains very slow, it has witnessed few trades at almost stable prices last week.

Offers from Hong Kong for containerized HMS 1&2 (50:50) stand at around USD 348-350/MT, CFR Vietnam which have inched down marginally from USD 352-355/MT, CFR levels two weeks’ ago.

Offers from largest supplier Japan remained very high as compared with other origin. H2 scrap offers assessed at USD 355-360/MT, CFR Vietnam. Firm domestic scrap prices and tight supply hold Japanese export offers high. Japanese scrap being expensive was less preferred by Vietnamese steelmakers over other origin scrap.

According to sources, last week a bulk scrap cargo from Europe was booked comprising HMS 1&2 (60:40) at USA 346/MT,CFR Phu My port.

Vietnam’s ferrous scrap imports likely to cross 4.5 MnT in CY18 - According to customs data maintained with SteelMint, during first seven months of CY18, Vietnam has imported 2.40 MnT ferrous scrap, up 13% Y-o-Y. Sharply rising EAF steel output in Vietnam has resulted in sharp growth in scrap imports and now it is expected that imports may cross 4.5 MnT mark in CY18.

Imported scrap offers to Indonesia stable; Buying remains limited - Indonesia, another major scrap market in South East Asia has observed similar trends this week. Current offers of oversized P&S scrap from Singapore in 20 MT containers heard at around USD 385/MT, CFR Jakarta. While price assessment for busheling scrap from Singapore stands mostly in the range of USD 392-395/MT, CFR.

Offers for USA and UK origin Shredded scrap in containers reported at around USD 363-365/MT, CFR Jakarta. While few offers for bulk HMS 1&2 (80:20) heard in the range of USD 360-365/MT, CFR.

Few limited deals for P&S of other origins booked in the range of USD 380-383/MT, CFR Jakarta in 20 MT containers.

As per reports, Indonesia stood one of the leading steel scrap importers in SE Asia with import quantities of 1.812 MnT in CY17.

 


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