VIETNAM STEEL SCRAP: Scrap, steel markets virtually 'shut down' amid Covid-19 pandemic

There was little interest in imported scrap in the Vietnam market during the week to Friday July 16 due to the Covid-19 pandemic causing an almost complete shutdown of the local long steel and scrap markets, sources said.

Offers for bulk Japanese H2 were mostly at $490-500 per tonne cfr Vietnam, with one offer at $505 per tonne cfr Vietnam, sources told Fastmarkets.
“There’s not much interest in purchasing scrap now, especially with the Vietnam market in a state of shutdown amid the worsening Covid-19 situation,” a trader in Vietnam told Fastmarkets this week.
There were no firm bids from buyers for imports, although indications for imported bulk Japanese H2 remained at $484 per tonne cfr Vietnam, which was the price at which the most recent deal was concluded.

Vietnam recorded 801 new...

Published

Paul Lim

July 16, 2021

11:12 GMT

Singapore