Not much has changed in Vietnam’s import scrap market over the past week. Vietnamese mills remain cautious amid lower rebar demand in the market, while most player want to monitor the impacts of US President Trump’s tariffs. Taiwan has kept its scrap purchase prices stable and, with South Korea’s absence from the scrap spot market continuing, there is not much pressure on Vietnam to accept higher prices. Meanwhile, Vietnam’s National Assembly has approved the construction of a new $8.3 billion railway link connecting northern Vietnam with China, which will be paid for in part with Chinese loans.
Over the past week, offers for Japanese H2 scrap to Vietnam have remained stable in the range of $315-320/mt CFR. Vietnamese buyers’ ideas for workable price levels for this grade are still at $315/mt CFR.
Ex-US bulk HMS I/II 80:20 scrap offers to Vietnam have also remained unchanged week on week, at $345-350/mt CFR, though the upper end of the offers are heard more frequently this week.