Ferrous scrap prices in SE Asia up $5 on restocking
Mar 21, 2012 | 01:20 AM
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Ferrous scrap prices in Southeast Asia have risen by $5 per tonne in the past two weeks as mills replenish stocks.
Malaysia, Philippines, and Vietnam are booking HMS 1&2 (80:20 mix) from the USA and Europe at $445-455 per tonne cfr, up from $440-450 per tonne cfr two weeks ago.
“Stocks are low in Vietnam, so some mills are booking. In northern Vietnam, total bookings this week are about 30,000 tonnes,”....
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