Poor demand for scrap in Taiwan sends prices downward

Asian scrap price trends remained little changed this week, with Vietnam seeing virtually no movement while import prices in Taiwan continued to soften.

Vietnam Metal Bulletin’s assessment of import prices for Japan-origin heavy melting scrap 1&2 (80:20) sold into Vietnam was at $360-365 per tonne cfr for the week ended Friday August 10, unchanged from a week ago. Prices remained stable this week due to limited buying interest among end-users in southern Vietnam. Japanese suppliers offered HMS 1&2 (80:20) at $365 per tonne cfr Vietnam this week. Key traders said they were expecting negotiations to take place around $360-365 per tonne cfr Vietnam. “I have asked a number of buyers, but no one has submitted firm bids for HMS 1&2 (80:20) cargoes so far,” a Japanese trader said. There was more spot trading activity for lower-grade materials, with at least four deep-sea cargoes of such products of various origin...

Published

Paul Lim

August 10, 2018

10:46 GMT

Singapore