Vietnam’s import scrap market has recorded small changes over the past two weeks. Cheaper billet prices from China are still disrupting the market, while sluggish finished steel demand is not helping the situation. Vietnamese mills continue to buy scrap to support their production commitments, though it is reported that they are buying in small tonnages.
Over the past week, offers for Japanese H2 scrap to Vietnam have declined slightly on the lower end by $5/mt to $320-330/mt CFR. Market sources report that the lower end of the price range is considered workable.
Over the past week, ex-US bulk HMS I/II 80:20 scrap offers to Vietnam have remained unchanged at $345-350/mt CFR.