VIETNAM STEEL SCRAP: Steady demand not stopping price fall

Import prices for ferrous scrap in Vietnam trended downward during the week to Friday June 26 despite steady demand among buyers.

A transaction involving a bulk cargo of Japanese H2 scrap was heard to have been concluded at $265 per tonne cfr southern Vietnam on Tuesday, but by the end of the week, another 5,000 tonnes of the same grade of steelmaking raw material changed hands at $253 per tonne cfr Vietnam.
These mirrored the movement for offers, which went from $265 per tonne cfr southern Vietnam at the start of this week, to around $259-260 per tonne cfr by Thursday-Friday.
A transaction involving Japanese H2 scrap was also heard at $247 per tonne cfr southern Vietnam on Friday but this could not be confirmed at the time of writing.

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Published

Paul Lim

June 26, 2020

10:45 GMT

Singapore