VIETNAM STEEL SCRAP: Post-holiday rebound in activity drives up prices

Spot prices in the key Vietnamese import market rebounded strongly in the week to Friday February 19 following the country’s Lunar New Year holiday, sources told Fastmarkets.

Trading activity had been limited in the first half of the week until Vietnamese buyers returned to the market on Wednesday.
Japanese H2 was offered at $420-425 per tonne cfr Vietnam on Wednesday, before offers increased to $430-435 per tonne cfr Vietnam on Thursday. An optimistic seller was aiming to sell H2 cargoes at $450 per tonne cfr Vietnam late on Thursday. Offers increased to $435 per tonne cfr Vietnam on Friday.

There were transactions concluded at $421 per tonne, $424 per tonne and $425 per tonne cfr...

Published

Paul Lim

February 19, 2021

10:15 GMT

Singapore