Vietnamese buyers have accepted a $10/mt increase for Japanese H2 grade scrap this week, while scrap offers from the US have remained rather stable week on week. Market sources report that construction steel prices have not indicated any sharp fluctuations this week. While steel demand is not expected to show a rapid acceleration, steel supply is plentiful, SteelOrbis understands. Vietnam’s scrap imports in March 2026 climbed to 556,700 mt, up 28.5 percent year on year, showing that scrap demand in the country is solid.
Ex-US bulk HMS I/II 80:20 scrap offers to Vietnam have remained at around $400/mt CFR. Workable levels for this grade are still in the range of $390-395/mt CFR, sources report.
With only a few ex-Japan scrap offers to Vietnam available, Japanese H2 scrap offers are at $385-390/mt CFR, stable week on week. A source reports that the actual price for this grade is now standing at $385/mt CFR, increasing by $10/mt week on week.
Meanwhile, according to unconfirmed information, Vietnam has bought Russian A3 grade scrap at $395/mt CFR.
