Asia steel scrap prices edge up on rebound in demand

Prices for steel scrap in Asia have rebounded this week on a revival of demand from buyers, with prices in both Vietnam and Taiwan on an upward trend, Metal Bulletin heard on Friday September 14.

The continued buying in the Turkish import market this week has also bolstered sentiment among buyers, who felt that prices had bottomed out and were now beginning a gradual upswing. Vietnam Metal Bulletin’s assessment of import prices for HMS 1&2 (80:20) sold into Vietnam was $353-355 per tonne cfr for the week ended September 14, narrowing from $345-355 per tonne last week. There was a deal done at $354 per tonne cfr south Vietnam for a deep-sea HMS 1&2 (80:20) cargo from the United States, consisting of 21,000 tonnes of HMS and 21,000 tonnes of shredded scrap. Europe-origin scrap of...

Published

Paul Lim

September 14, 2018

14:32 GMT

Singapore