Prices for both ex-US and ex-Japan scrap in Vietnam have moved sideways over the past week. Market sources report that Vietnam’s demand for Japanese scrap has been improving gradually, though with demand and supply still in balance. Demand for Japanese scrap is also increasing in South Korea. Japanese scrap sellers are receiving some support from exports and also from within their local markets.
Current offers from Japan to Vietnam are still at $325/mt CFR, while the workable level for this grade has remained at $320/mt CFR. Vietnamese buyers have shared their bids for HS grade at $340-345/mt CFR, increasing by $5/mt on the upper end week on week. However, there is still a $10/mt price gap between the price ideas of sellers and buyers.
Ex-US bulk HMS I/II 80:20 scrap offers are still at around $340-350/mt CFR Vietnam. Sources report that workable levels are at around $335-340/mt CFR.
