VIETNAM STEEL SCRAP: Buyers book Japanese scrap on plunging offers

Vietnamese steel mills booked Japanese scrap during the week to Friday September 25 as a result of sellers cutting their offer prices in an attempt to offload material before China’s “Golden Week” holiday on October 1-8.

Offers for bulk Japanese H2 cargoes fell consistently throughout the week, from $303-305 per tonne cfr Vietnam at the mid-week point to $295-297 cfr Vietnam by Friday.
There was one transaction at $293 per tonne cfr southern Vietnam and at least one transaction at $295 per tonne cfr southern Vietnam. The quantities transacted were not disclosed.
Bids from end users were at $290 per tonne cfr Vietnam.

“There is still limited demand from buyers, who are still wary of price...

Published

Paul Lim

September 25, 2020

11:47 GMT

Singapore