VIETNAM STEEL SCRAP: Multiple deals done on returning demand

Vietnamese demand for imported ferrous scrap increased in the week to Friday September 24 amid an expected ramping up of steel production rates after the easing of Covid-19 restrictions.

Sentiment in northern Vietnam turned increasingly bullish, especially with capitol Hanoi to ease lockdowns from this week on falling infection numbers and increasing vaccination rates.

There were a number of transactions heard or confirmed by market participants, with a deal for 5,000 tonnes of Japan-origin, H2 scrap done at $485 per tonne cfr Vietnam on September 22; another 5,000 tonnes of the same material sold at $490 per tonne cfr Vietnam on September 23;, followed by 3,200 tonnes of Taiwan-origin, plate & structural (P&S) at $555 per tonne; and 2,700 tonnes, Hong Kong-origin, oversized P&S at $513 per tonne...


Paul Lim

September 24, 2021

09:44 GMT