ASIA FERROUS SCRAP: Buying eases on holidays in Vietnam, Taiwan

Demand for ferrous scrap in key import markets Taiwan and Vietnam was weaker this week due to major holidays in these regions, while social distancing measures implemented in Vietnam also resulted in less downstream activity.

More clarity is expected next week when both importers return fully to the market. Participants are also watching for new price trends in key market Turkey.
Vietnam
Fastmarkets’ weekly price assessment for deep-sea bulk cargoes of steel scrap, HMS 1&2 (80:20), cfr Vietnam was $230-235 per tonne on Friday April 3, falling by $5-8 per tonne from $238-240 per tonne a week earlier.
Offers for deep-sea materials dipped by $3 per tonne to $240 per tonne for HMS 1&2 (80:20), $245 per tonne for shredded and $250 per tonne for bonus scrap.

There was limited demand heard from buyers this week due to the stricter social distancing measures announced by Vietnamese Prime Minister Nguyen Xuan Phuc...

Published

Paul Lim

April 03, 2020

10:23 GMT

Singapore