ASIA FERROUS SCRAP: Mixed demand pattern emerges ahead of year-end

Ferrous scrap prices in Asia are showing mixed signs in the lead up to the year-end vacation period of Christmas and New Year.

Taiwanese buyers have eased purchases amid expectations of more stable prices in the near term once sellers in the United States stop business activities.

However, Vietnamese buyers have been paying higher for purchases of both Japanese and American scrap.

Fastmarkets’ price assessment for bulk shipments of steel scrap HMS 1&2 (80:20), cfr Vietnam was $300-305 per tonne cfr on Friday December 20, up $5-10 per tonne from a week earlier.

Offers for heavy melting scrap (HMS) 1&2 (80:20) from the West Coast of the United States were at $305-315 per tonne cfr Vietnam.

A major steel mil in northern Vietnam bought 30,000 tonnes of ferrous scrap from the United States' West Coast midweek at a base price of $305 per...


Lee Ken Kiat

December 20, 2019

09:30 GMT