Liquidity in the Asian ferrous scrap market thinned this week due to year-end holidays, with some buying heard in Taiwan and Vietnam, albeit involving small quantities.
Sellers in the United States are on their Christmas vacation while those in Japan kept prices stable.
Vietnam
Fastmarkets' price assessment for bulk shipments of steel scrap HMS 1&2 (80:20), cfr Vietnam was $300-305 per tonne cfr on Friday December 27, unchanged from
a week earlier.
Bulk cargoes of heavy melting scrap (HMS) 1&2 (80:20) from the US West Coast was offered at $305-315 per tonne cfr Vietnam, unchanged week on week.
Bids for such materials were limited because of the offers were considered high.
Furthermore, H2 scrap from Japan was also made available to buyers in Vietnam. Some 9,000-18,000 tonnes of these were sold to Southeast Asian country at $285-287 per tonne cfr this week.
Such cargoes had been offered at $290-295 per tonne...