VIETNAM STEEL SCRAP: Buyers opt for US scrap amid narrowing gap with Japanese cargoes

Interest for deep-sea bulk cargoes of heavy melting scrap from the United States' West Coast returned this week in Vietnam, a key market in Asia, with a transaction involving 4,000 tonnes of HMS 1&2 (80:20) heard at $295 per tonne cfr.

This is part of a bulk shipment that includes another 22,000 tonnes of shredded scrap priced at $297 per tonne cfr Vietnam and 4,000 tonnes of plate & structural (P&S) scrap priced at $302 per tonne cfr.
The shipment was sold to Vietnam by a major US scrap supplier on the West Coast, sources told Fastmarkets.

"It is highly likely that the cargo was sold to southern Vietnam," an industry source in the Southeast Asian country said. The source made this conclusion based on northern Vietnam’s port draft limits...

Published

Paul Lim

August 07, 2020

10:04 GMT

Singapore