Vietnam’s import scrap prices have maintained their strength over the past week as a result of international scrap prices moving up over the past week. Market sources report that freight between Japan and Vietnam has declined and has provided some margins to Japanese sellers who have kept their offers stable over the past week. ASEAN+3 Macroeconomic Research Office (AMRO) estimates that Vietnam's economy will grow by 6.5 percent in 2025, having recorded seven percent growth in 2024.
Over the past week, offers for Japanese H2 scrap to Vietnam have remained stable at $325-330/mt CFR this week. Vietnamese buyers’ ideas for workable price levels for this grade are still at $320s/mt CFR.
Ex-US bulk HMS I/II 80:20 scrap offers to Vietnam have moved up by $5/mt on the upper end to $360-370/mt CFR. Market sources report that Vietnam has bought an ex-Australia cargo at $345-350/mt CFR.