VIETNAM STEEL SCRAP: Demand for US scrap intensifies amid rising Japanese prices

Demand for American scrap has intensified over the past week, even as prices for alternative Japanese supply continued to increase.

At least three steel mills in Vietnam were out bidding for United States-origin scrap in the week to Friday October 23, with at least one transaction concluded.
A steel mill in northeast Vietnam booked a 32,000-tonne deep-sea cargo at a composite price of $312 per tonne cfr Vietnam from a scrapyard in the northern west coast of the US, with majority being shredded material.

Offers for deep-sea cargoes were in the region of $308-315 per tonne cfr Vietnam at the start of the week, depending on payment terms,...


Paul Lim

October 23, 2020

11:10 GMT