VIETNAM SCRAP: Strong appetite for scrap imports boosts prices

Strong spot demand for ferrous scrap in Vietnam has continued to boost prices in the week to Friday June 5, with a flurry of purchases at higher prices.

Bids for bulk cargoes of Japanese H2 scrap were at $260 per tonne cfr southern Vietnam this week. Offers were at $263-268 per tonne cfr southern Vietnam at the start of the week, but increased to $265 per tonne cfr by Friday. There was not much interest in buying Japanese material.
There was a transaction at $265 per tonne cfr northern Vietnam for a bulk Japanese H2 cargo of 5,000 tonnes, compared with offers at $270-275 per tonne cfr northern Vietnam.

Japanese H1&H2 (50:50) cargoes were offered at $270 per tonne cfr Vietnam, with bids at $263 per tonne cfr southern Vietnam.
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Published

Paul Lim

June 05, 2020

11:11 GMT

Singapore