VIETNAM STEEL SCRAP: Buyers pull back amid high offers

Spot prices for imported ferrous scrap in key market Vietnam increased week on week, although higher offers from sellers have seen buying interest subside from last week.

Offers for bulk heavy melting scrap (HMS) 1&2 (80:20) were at $550 per tonne cfr Vietnam, with bids at $535-540 per tonne cfr Vietnam.
There remained interest for bulk deep-sea HMS 1&2 (80:20) cargoes from the United States’ West Coast due to pricey alternative supply from Japan.

Key market sources estimated that buyers would need to pay $545 per tonne cfr Vietnam...


Paul Lim

October 15, 2021

09:24 GMT