Vietnamese buyers continued to focus heavily on Japanese scrap
due to its large discount against materials from the United States' West Coast.
Fastmarkets’ weekly price assessment for deep-sea bulk cargoes of steel scrap HMS 1&2 (80:20), cfr Vietnam
was $270-275 per tonne cfr on Friday February 28, up by $10 per tonne from a week earlier.
Offers were at $275-280 per tonne cfr Vietnam, while bids were at $270 per tonne cfr Vietnam. Negotiations were in a range of $270-275 per tonne cfr Vietnam.
Sellers of bulk scrap have not been offering actively to Vietnam because of higher demand in South Asia, where a number of bulk cargoes were sold to India and Pakistan.
There was a bulk shredded cargo offered by a major US scrapyard at $298 per tonne cfr Vietnam, but there was no interest from buyers.
Market sources in Vietnam said the highest...