Vietnam’s steel market has remained subdued over the past week, with both scrap and finished steel demand showing clear signs of weakness. Buyers have remained cautious, limiting their purchases to essential needs amid uncertain market conditions. Trading activity has generally been slow. Seasonal factors, coupled with slack construction activity, have contributed to the overall quiet sentiment, while market participants have continued to monitor regional trends for potential direction.
Due to the holiday in Japan on August 11-16, ex-Japan H2 scrap offers to Vietnam have been very limited, with prices mostly remaining stable in the range of $310-315/mt CFR.
Meanwhile, ex-US bulk HMS I/II 80:20 scrap offers to Vietnam have moved up by another $5-10/mt this week to $350-355/mt CFR, with workable levels at around $340-345/mt CFR.