Vietnamese mills are not presently expected to purchase bulk scrap for import from the US, instead continuing short-sea scrap purchases from Japan and nearby sources. Vietnamese bid levels for Japanese H2 scrap are reportedly at $322-325/mt CFR.
Japanese H2 offers to Vietnam are reportedly at $335/mt CFR. This offer price has decreased $10/mt from $345/mt CFR heard around September 12 when Vietnamese mills had recently booked Japanese H2 export scrap at $338/mt CFR.
Due to strong domestic demand for scrap in Japan, a source noted that H2 export deals to Vietnam are expected to be higher than present bid levels. Regardless, as offers are below the previous H2 deal level of $338/mt CFR, “scrap import prices to Vietnam appear to be under some downward pressure.”