Vietnam’s appetite for import scrap remains shallow as construction activities in the country are slowing down. The declines in the Kanto tender and in Tokyo Steel’s domestic scrap procurement prices and Taiwan’s import scrap purchases has supported Vietnamese buyers’ lower bids. Market sources report that domestic rebar prices in Vietnam are also moving down and that sentiment in the market remains poor.
Over the past week, offers for Japanese H2 scrap to Vietnam have remained stable at $320-325/mt CFR. Market sources report that buyers’ workable price ideas are at around $305-310/mt CFR.
Meanwhile, ex-US bulk HMS I/II 80:20 scrap offers to Vietnam are currently at around $335-340/mt CFR, while workable levels remain at $335/mt CFR.