Vietnam’s import scrap market has remained unchanged this week in terms of prices.
During the first four months this year, Vietnam was the biggest importer of Japanese scrap, importing 1.13 million mt, up by 36.7 percent year on year. Vietnam was followed by South Korea and Bangladesh, importing 426,606 mt and 422,009 mt of scrap, down 30.7 percent and up 272.0 percent year on year, respectively.
Over the past week, offers for Japanese H2 scrap to Vietnam have remained stable at $325-330/mt CFR. Market sources report that the workable levels are still at around $325/mt CFR for H2 grade scrap.
Over the past week, ex-US bulk HMS I/II 80:20 scrap offers to Vietnam have also remained unchanged, at $345-350/mt CFR. Vietnam is showing little interest in ex-US scrap cargoes given the significant price gap between offers and bids.
