Latest situation in Far East scrap market

According to market sources, ex-Japan offers to Vietnam for HS grade scrap are currently at $290/CFR. Meanwhile, Japanese scrap quotations to South Korea for HS grade scrap are at $295/mt CFR.
 
Market sources state that Vietnamese buyers are unwilling to make new scrap bookings since they purchased decent volumes of scrap in previous days, while Japanese scrap suppliers are not under pressure to conclude sales after concluding many deals recently. Thus, prices in the Vietnamese import scrap market are expected to remain stable in the coming days. However, it is heard that Japanese scrap suppliers may revise their prices downwards for Vietnam, if Chinese scrap suppliers make aggressive offers to the Taiwanese market.