VIETNAM STEEL SCRAP: Thin spot demand amid major holidays in Asia

Import prices for ferrous scrap in Vietnam inched up in the week to Friday April 30 amid high offers from Japan and stable demand, industry sources told Fastmarkets.

Japanese H2 scrap cargoes were offered at $470-480 per tonne cfr Vietnam, according to market sources. But there were no bids heard from buyers at all due to the upcoming holidays in both Vietnam and Japan.
There are public in holidays in Vietnam from Friday until May 3, when the country will celebrate Reunification Day and Labour Day, while key supplier Japan has a “Golden Week” holiday from Thursday until May 5.
"Many Vietnamese buyers are waiting for Japan to return from its holiday, as well as the next Kanto Tetsugen auction result, before purchasing more cargoes," a buyer in Vietnam said.

Bulk Japanese heavy scrap (HS) was offered at $515-525 per tonne cfr Vietnam, increasing by...


Paul Lim

April 30, 2021

09:35 GMT