Vietnam’s renewed interest in scrap has resulted in import deals this week, while prices have remained relatively stable. Buyers and sellers have reached a mutual understanding on prices, allowing them to sign new contracts. With the US and China deciding to postpone tariffs for 90 days, the trade tensions in the region seem to have eased slightly.
Over the past week, offers for Japanese H2 scrap to Vietnam have remained stable at $325-330/mt CFR. Market sources report that deals were done at the lower end of the offer range at $325/mt CFR for H2 grade scrap.
Over the past week, ex-US bulk HMS I/II 80:20 scrap offers to Vietnam have also moved sideways at $345-350/mt CFR.