Vietnam’s demand for imported scrap has shrunk over the past week as the summer season has started in the country. Uncertainties surrounding the international trading market, as well as slower finished steel sales, also contribute to Vietnamese buyers’ cautiousness.
Over the past week, offers for Japanese H2 scrap to Vietnam have declined by $5/mt on the upper end, to $320–325/mt CFR. Some market sources report that prices below $320/mt CFR can also be found in the market now. Market sources report that this range is considered workable by Vietnamese buyers.
Meanwhile, ex-US bulk HMS I/II 80:20 scrap offers to Vietnam have increased by $5/mt on the lower end, settling at $350/mt CFR. Also, market sources report that ex-Russia A3 grade scrap offers to Vietnam are around $340/mt CFR.
The Tokyo Bay FAS-based price for H2 grade scrap is at JPY 41,000/mt ($281/mt), while the FOB-based export price is JPY 42,000/mt ($288/mt) for the same grade.
The Tokyo Bay HS grade scrap price now stands at JPY 45,000/mt ($309/mt) FAS, while the shindachi scrap price is JPY 44,500/mt ($305/mt) FAS.
$1 = JPY 144.48
