VIETNAM STEEL SCRAP: Market surges amid high Japan offers, strong China billet demand

Prices for steel scrap cargoes imported to Vietnam jumped during the past week amid a sharp increase in the Japanese market and high demand for Vietnamese billet in China, sources told Fastmarkets on Friday November 13.

Asking prices for Japanese H2 heavy scrap soared after Wednesday’s Kanto Tetsugen – an auction between scrap suppliers in the Tokyo area – where a mill in Vietnam was heard to have purchased a 5,000-tonne lot at ¥30,270 ($288) per tonne fas.
Fastmarkets’ weekly price assessment for steel scrap H2, Japan-origin import, cfr Vietnam was $320-328 per tonne on Friday, up $13-21 per tonne week on week from $307 per tonne previously.

Deals through the week were heard to have started at $320 per tonne cfr South Vietnam, and had moved up to $328 per tonne cfr by the end of the week. By Friday, offers for Japan H2...

Published

Lee Allen

November 13, 2020

11:39 GMT

Singapore