Vietnamese customers have been active in bulk scrap purchases during the current week as small discounts have been provided by suppliers. As a result, three bookings from the EU, the US and Australia have been reported for a total tonnage of about 100,000 mt.
A contract for 40,000-45,000 mt of European scrap has been concluded at $316/mt CFR Vietnam for HMS I/II 80:20 scrap. A deal for Australian scrap cargo has been done at $316-318/mt CFR for the same grade. Also, there were reports of an ex-US scrap transaction at $318/mt CFR earlier this week. The contracts from Australia and the US were for 30,000 mt of scrap each, according to sources. As SteelOrbis reported previously, most offers for bulk HMS I/II 80:20 scrap were not below $320/mt CFR last week. Small discounts have attracted customers as offers from Japan are still high.
A stray contract for H2 scrap from Japan has been heard at $305/mt CFR this week, versus the tradable value at $307-310/mt CFR last week.