Amid increasing negative sentiment in the global steel and scrap markets, Vietnam’s import scrap market has remained under downward pressure. The workable price levels for buyers and sellers are different. In particular, ex-Japan offers are significantly higher than buyers’ bids. Meanwhile, Vietnamese source believe that the new tariff regime has not created additional costs for Vietnamese steel and is not necessarily damaging for the sector.
Over the past week, offers for Japanese H2 scrap to Vietnam have remained stable at $330-335/mt CFR. Bids from Vietnamese buyers are now $10/mt lower than the offers.
In the given week, ex-US bulk HMS I/II 80:20 scrap offers to Vietnam have moved down by another $5/mt on the upper end, to $360/mt CFR.