HMS 1&2 has increased by 5-7 USD/t in the last two weeks, gradually reaching USD 370-372/t CIF (Taiwan ports). In these days when purchasing activities are at minimum levels, scrap suppliers have not been able to determine their prices for August yet. Vietnamese buyers are asking for USD 405-410 /t CIF for HMS 1&2 scrap from the USA, while they are requesting USD 390 /t CIF for H2 scrap from Japan.
While the scrap market in the region appears to have stabilized, long-term stability is unlikely given the drop in supply across much of South Asia.
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