Activity in Vietnam’s import scrap and steel markets has been impacted heavily by the consecutive floods and typhoons that have hit the country. The record rainfall observed in Vietnam in late October has caused floods and landslides in the country, while this week Typhoon Kalmaegi has triggered power outages and damaged homes. The typhoon is so far the globe’s deadliest of 2025, according to disaster database EM-DAT. As a result, Vietnamese steel producers are not showing much interest in any offers from the US or Japan as transportation and production operations have been negatively impacted by the ongoing adverse weather.
Ex-US bulk HMS I/II 80:20 scrap offers have remained unchanged over the past week at $350/mt CFR Vietnam once again. Sources report that workable levels are still at around $340/mt CFR. Meanwhile, the lack of interest for this grade in Vietnam or in other traditional buyer regions has caused a supplier in US West Coast to sell a cargo to Turkey. SteelOrbis has learned that the ex-US West Coast deal done by an Izmir-based Turkish steel producer was closed on November 2 for 25,000 mt of HMS I/II 90:10 scrap at $350/mt CFR and 25,000 mt of shredded scrap at $370/mt CFR. According to market sources, the shredded scrap price in the deal is on a par with US West Coast-based sellers’ recent sales to Bangladesh. “There is no interest to ex-US West Coast scrap offers in Asia and sellers are trying to find solutions. Although this sale to Turkey came as a surprise to all market players, there is also some movement of vessels from the Pacific Ocean to the Atlantic now,” a source in the US mentioned.
Vietnam has continued to buy Japanese H2 scrap at $325/mt CFR over the past week, with offers remaining at around $330/mt CFR. Meanwhile, ex-Japan HS grade scrap offers to Vietnam are in the range of $360-370/mt CFR, but are considered too high by Vietnamese buyers.
This week, the Tokyo Bay FAS-based price for H2 grade scrap has increased by JPY 500/mt week on week to JPY 43,000/mt ($281/mt), up by $5/mt on dollar basis. The FOB-based export price remains at JPY 44,000/mt ($287/mt) for the grade in question, up by $5/mt week on week.
The Tokyo Bay HS grade scrap price has moved up by JPY 500/mt or up by $5/mt week on week to JPY 47,000/mt ($307/mt) FAS, while shindachi scrap price has also increased by JPY 500/mt or up by $5/mt to JPY 46,500/mt ($304/mt) FAS.
$1 = JPY 153.16
