Ahead of the approaching Lunar New Year (Tet) holiday, Vietnamese import scrap market has indicated a slight decline in terms of prices. Although ex-Japan scrap offers to the country have been pushed up slightly, Vietnamese buyers aim for lower prices.
Offers for Japanese H2 grade scrap to Vietnam have moved up to $405/mt CFR, indicating a $5/mt increase as compared to the levels recorded two weeks ago. However, the bids shared by Vietnamese buyers are in the range of $390-395/mt CFR.
As of today, February 2, Tokyo Bay FAS-based prices for H2 grade scrap were at JPY 51,000/mt ($345/mt), lower by JPY 1,500/mt or $9/mt as compared to January 19. Tokyo Bay FAS prices for HS grade scrap were at JPY 55,000/mt ($372/mt), while prices for shindachi scrap were at JPY 53,500/mt ($362/mt) FAS.
SteelOrbis’ reference price for ex-Japan H2 scrap has softened slightly by JPY 500/mt from JPY 52,500-54,000/mt ($354-364/mt) FOB to JPY 52,000-53,500/mt ($351-362/mt). The lower end is represented by deals done by Vietnamese producers, while the upper end is represented by offers to Taiwanese producers.
$1 = JPY 147.71