VIETNAM STEEL SCRAP: Buyer interest grows amid limited supplies, price uptrend

Vietnamese buyers have increased their interest in Japanese steel scrap amid ongoing supply shortages, sources told Fastmarkets on Thursday April 1.

Offers for Russian A3 scrap came in at $450 per tonne cfr Vietnam this week, while sources estimated that deep-sea cargoes of HMS 1&2 (80:20) from the United States or Australia would be on offer at about $455-460 per tonne cfr Vietnam.
One major buyer refrained from submitting any bids while waiting for a favorable price trend to emerge before looking to purchase US-origin material. 

There was market chatter about a possible transaction in Asia at slightly below $450 per tonne cfr, which led key market participants to estimate that prices in Vietnam were at $454-455...

Published

Paul Lim

April 01, 2021

12:46 GMT

Singapore