Vietnam: Imported scrap prices inch down, trade remains slow

Vietnam's imported scrap market has been mostly quiet for yet another week with prices dipping slightly. Trade activities remained slow after the Kanto tender. However, around 5,500 tonnes of Japanese H2 material was booked in a recent deal from the tender that concluded on 10 May. The cargo was booked at around JPY 46,030/t FAS basis.

Interestingly, the deal from Kanto was booked after a prolonged gap. However, domestic demand for steel is still depressed. Buyers are more cautious due to dull market sentiments. Recent offers Offers for Japanese material have inched down by $10/t since last week, coming down to $370/t CFR Vietnam for H2 grade. US-origin