Asia ferrous scrap prices weaken further on lower offers, thin demand

Import prices for containerized ferrous scrap in Taiwan and bulk ferrous scrap in Vietnam dropped again this week, after suppliers reduced their offers further and demand remained weak amid soft downstream long steel markets.

Lower offers from Japan also continued to depress prices in the Asian scrap markets, sources told Fastmarkets. Vietnam Fastmarkets’ import price assessment for heavy melting scrap (HMS) 1&2 (80:20) sold into Vietnam was $325-330 per tonne cfr for the week to Friday December 7, down from $335-340 per tonne cfr a week earlier. No deals were reported for HMS 1&2 (80:20) this week, although several deep-sea offers for the product were received between $325...

Published

Fiona Lam

December 07, 2018

09:47 GMT

Singapore