A large spread between bulk-shipment and containerized ferrous scrap shipments to Asia is helping spot prices to rise.
Limited supply and healthy demand in the key markets of Vietnam, Taiwan and South Korea have added to the upward pressure on prices in import markets.Vietnam Import prices into the Southeast Asian nation rebounded this week on healthy end-user demand. Fastmarkets MB's import price assessment for heavy melting scrap (HMS) 1&2 (80:20) sold into Vietnam was $310-315 per tonne cfr in the week ending Friday January 25, up $5-7 per tonne from $303-310 per tonne cfr a week earlier.Offers for US-origin deep-sea HMS 1&2 (80:20) scrap were at $315-318 per tonne cfr, Fastmarkets was told. Negotiations were within $310-315 per tonne cfr, although there were no transactions concluded for such material by the time of publication.A 40,000-tonne cargo of Europe-origin deep-sea HMS 1&2 (80:20) scrap was on offer at $310-315 per tonne cfr, including 10,000 tonnes...