Offer prices for imported scrap have increased in Vietnam this week and demand has been better than in other Asian countries. Japanese scrap has remained the most popular among buyers.
Bid prices for Japanese H2 have increased to $260/mt CFR, while the highest contract level was at $255/mt CFR last week. Some tonnages have been sold at this new level and offer prices have increased to $263-268/mt CFR late this week, sources have told SteelOrbis. These latest offers are equivalent to JPY 24,500-25,000/mt ($229-233/mt) FOB. This price level is much higher than bids from South Korean and Taiwanese buyers.
Some offers for HMS I/II 80:20 have been heard at $275/mt CFR and above, up by $5/mt over the past week.
