It is observed that Vietnam’s import scrap market has remained quiet over the past week, particularly in the north of the country. “Vietnamese buyers have bought quite enough cargoes and local scrap flow is also good, and so they are in no rush to import scrap,” a Vietnamese source commented.
SteelOrbis has learned that there is some demand from buyers based in southern Vietnam, particularly for containerized HMS I/II 80:20 scrap from the US at $570-575/mt CFR and shredded scrap at $615-620/mt CFR. Deals have been concluded at these levels this week. As regards bulk HMS I/III 80:20 scrap, ex-US offers have moved down to an indicative level of $635-640/mt CFR. On April 1, offers for ex-US HMS I/II 80:20 to Vietnam were at $645-650/mt CFR.
As SteelOrbis reported yesterday, April 7, offers from Japan to Vietnam for H2 grades are still at $620-630/mt CFR, stable since SteelOrbis’ report on April 1. On the other hand, Vietnamese buyers’ targeted levels for Japanese H2 grade scrap are in the range of $605-610/mt CFR. However, no deals have been done at these levels yet.
No bookings from Hong Kong for HMS I/II 50:50 scrap has been recorded in the current week. According to one source, “Recently ex-Hong Kong bulk cargoes were shipped to Hai Phong which is in the north of Vietnam as it is difficult to get vessels to Phu My port in the south. But buyers in Hai Pong are very quiet, so we have not heard an ex-Hong Kong cargo yet.”
