ASIA FERROUS SCRAP: Strong demand drives up prices

Demand from key markets Vietnam and South Korea was strong this week, with major steel mills procuring large quantities of imported scrap.

Taiwanese buyers also continued to pay higher for imported cargoes, although a major holiday in its key supplier the United States meant that there was less liquidity in the Taiwan import market this week.
Fastmarkets’ price assessment for bulk shipments of steel scrap HMS 1&2 (80:20), cfr Vietnam was $281 per tonne cfr on Friday November 29, up $6 per tonne from a week earlier.

There were not many offers heard for HMS 1&2 (80:20) from the US West Coast, although market sources placed them at a level of $285-290 per tonne cfr Vietnam and above...


Paul Lim

November 29, 2019

09:07 GMT