Vietnam’s interest for import scrap prices have recovered slightly this week amid improved construction activities. On the other side, Vietnamese buyers are reportedly still cautious and their ideas of workable levels remain lower than the offers voiced by sellers.
Over the past week, offers for Japanese H2 scrap to Vietnam have moved up by $5/mt on the upper end over the past week to $335-345/mt CFR this week. Bids from Vietnamese buyers are $5-10/mt lower than the offers.
Ex-US bulk HMS I/II 80:20 scrap offers to Vietnam have remained stable at $360-365/mt CFR. Market sources report that interest in Japanese scrap has been higher in the country, instead of ex-US cargoes.