Vietnam: Imported scrap market goes silent on national holiday

Source: Steelmint Sep 06, 2023 10:00

Demand for imported scrap in Vietnam remained subdued as the country observed its National Day holiday. Price movements this week were mixed, with most buyers choosing to stay on the sidelines and exploring attractive options in the local market. Offers for Hong Kong-origin HMS 1&2 (50:50) increased by $5/t w-o-w, reaching $375-380/t CFR Vietnam as sellers found better opportunities in other markets. Japanese suppliers, however, reduced their prices slightly for high-grade material to an average of $423/t CFR but failed to attract interest.

Offers and indicatives H2 offers for Vietnam have been in a consistent range of $385-$390/t CFR, while purchase offers continue to remain below the $380/t-CFR mark. Bulk 80:20 scrap offers, originating from the US, were at $395 to $405/t CFR Vietnam, slightly up w-o-w. Domestic market: Purchasing prices for northern mills for H2