VIETNAM STEEL SCRAP: Price gains slow amid souring sentiment

Import prices for ferrous scrap in Vietnam continued to increase but at a slower rate amid souring sentiment toward the end of the week, market sources told Fastmarkets on Friday April 16.

Bulk cargoes of Japanese H2 scrap were offered to Vietnam at $460-465 per tonne cfr Vietnam at the start of the week, before offers increased to $465-475 per tonne cfr Vietnam by mid-week.
There was a transaction heard concluded at $465 per tonne cfr Vietnam for a bulk Japanese H2 cargo mid-week but this could not be confirmed by counterparties.
Another transaction was heard concluded at $452 per tonne cfr Vietnam by Friday.
Bids were at $450-455 per tonne cfr Vietnam.

"The sudden drop in prices from mid-week...

Published

Paul Lim

April 16, 2021

09:12 GMT

Singapore