Having started the year with a stable trend, Vietnam’s import scrap market has maintained its firm trend during the current week. Most market sources view current market sentiments as being stable, though ex-US scrap offers have shown some increases. A gap still exists between buyers and sellers’ price ideas and the gap is expected to continue to be observed in the coming period.
Ex-US bulk HMS I/II 80:20 scrap offers to Vietnam have moved up on the upper end by $5/mt week on week to $350-355/mt CFR. No deal has been done at these levels this week. Market sources report that the workable levels for ex-US scrap are at around $345/mt CFR.
Meanwhile, workable levels for Japanese H2 scrap in Vietnam are still at $325/mt CFR, stable week on week. Offers for this grade are in the range of $325-330/mt CFR.
