Vietnam’s import scrap market has recorded another increase in the current week, with buyers accepting a rise in actual deal prices. Despite the upward push on prices, Vietnamese buyers point to the low demand in the construction segment due to the ongoing rains. Finished steel demand in Vietnam is on the low side amid challenging weather conditions, limiting any increases in the scrap segment.
Ex-Japan H2 grade scrap sales to Vietnam have been closed at $325/mt CFR, increasing by $5/mt on the upper end. Market sources report that offers are at around $327-330/mt CFR. The depreciation of the Japanese yen has provided some support for export offers this week.
Ex-US bulk HMS I/II 80:20 scrap offers have moved up by another $5/mt on the lower end to $350/mt CFR Vietnam. Sources report that workable levels are still at around $340/mt CFR.