VIETNAM SCRAP: Demand spikes on higher Japanese auction price, limited supply

Demand for ferrous scrap imports in Vietnam strengthened this week on rising prices caused by tight supply and a higher number from the latest Kanto Tetsugen auction in Japan.

Bids for bulk cargoes of Japanese H2 scrap were at $244 per tonne cfr southern Vietnam this week, compared with offers of $246-250 per tonne cfr southern Vietnam.
A transaction involving a 5,000-tonne cargo was concluded at $244 per tonne cfr. At least another 18,000 tonnes are being offered in the southern Vietnamese spot market.

Buyers in northern Vietnam were heard to have purchased Japanese H2 scrap at $252-258 per tonne cfr, including one 5,000-tonne cargo. Offers for H2 scrap were at...

Published

Paul Lim

May 15, 2020

10:02 GMT

Singapore