Coronavirus disruptions boost bulk scrap demand in Asia

Bulk cargoes are being increasingly favored by Asian ferrous scrap buyers in light of rising container freight costs caused by the novel coronavirus (2019-nCoV) outbreak.

Buyers in key import markets Taiwan and Vietnam are focusing heavily on Japanese H2 or H1 & H2 (50:50) cargoes, eschewing containerized ferrous scrap cargoes from the United States' West Coast.
Negotiations for bulk H1 & H2 (50:50) cargoes from Japan were at $253-254 per tonne cfr Taiwan on February 25-26, compared with offers at $255 per tonne cfr Taiwan for containerized cargoes.

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