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Scrap offers into South-east Asia keep rising

March 11, 2010 - 08:38 GMT Location: Singapore

KEYWORDS: Indonesia , Singapore , Malaysia , Vietnam , steel

Ferrous scrap offers into South-east Asia increased this week amid speculation of higher iron ore prices and thin supply from the USA

Bulk scrap was offered at $415-430 per tonne cfr South-east Asia for HMS 1&2 (80:20 mix) from Europe, the USA, Australia and South Africa, up from $380-400 per tonne cfr last week, according to sources in Vietnam, Malaysia, Singapore and Indonesia. Offers for scrap in containers from Europe and Australia were lower at $395-415 per tonne cfr, up from $370-380 per tonne cfr last week. Transactions were highest in Malaysia at $390-410 per tonne cfr, while elsewhere in the region buyers were bidding below...

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Ferrous

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