Ferrous scrap import prices into Southeast Asia have fallen by
$5 per tonne in the past three weeks as buyers in the region
shun high offers from suppliers.
HMS 1&2 (80:20 mix) material in containers changed hands at
$455-460 per tonne cfr this week in Vietnam, Malaysia,
Singapore, and the Philippines, down from $455-465 per tonne
cfr three weeks ago.
"Prices have been staying at this level for some time. They
cannot seem to go up," a mill official in Indonesia said.
"Buyers are not willing to pay too much for scrap when prices
of finished products have remained flat," a mill official in
In Vietnam, demand for scrap is slowing down, sources
"The reason why prices have not fallen [more] is because there
is no supplier willing to supply at too low prices," a trader
in Vietnam said.
"Some buyers, for example, are bidding at $450-455 per tonne
cfr, but no supplier is willing to take this," she said.
Some bookings were confirmed at $460 per tonne cfr in the
Haiphong region on Wednesday May 9, according to another trader
Booked transactions in Southeast Asia are similar to Metal
Bulletin global prices.
Metal Bulletin's Daily Ferrous Scrap Index was close to being
unchanged at $448.61 per tonne cfr Iskenderun on an HMS 1&2
(80:20) basis on Tuesday May 8, compared with the previous
figure published on Friday May 4, which was $448.64.
New offers from European and US suppliers have also remained
flat at $460-470 per tonne cfr, unchanged from four weeks ago.
The breakbulk market saw some activity this week with a booking
in Vietnam at the $475-480 per tonne cfr level, unchanged from
the last booking reported in March.
New offers are at $475-485 per tonne cfr, widening from the
$475-480 per tonne cfr three weeks ago.