Asian ferrous scrap prices largely up again on higher offers, firm demand

Import prices for ferrous scrap in Asia generally rose further this week amid steady buying interest and higher offers, market participants told Fastmarkets.

Rising scrap values in Turkey and Japan continued to support market sentiment and encouraged sellers to maintain or increase their asking prices, sources said. Vietnam Steel mills in Vietnam were still looking to buy scrap this week, especially those in the northern part of the country, sources said. "Vietnam is the most active import market now in Asia, but I think its prices will reach their peak soon," a Southeast Asia-based trader said. Fastmarkets’ import price assessment for HMS 1&2 (80:20) sold into Vietnam was $345-350 per tonne cfr for the week to March 15, up 1.5% and by $5 per tonne week on week. Offers for bulk shipments of deep-sea and Asia-origin HMS 1&2 (80:20) scrap...

Published

Fiona Lam

March 15, 2019

12:05 GMT

Singapore