Vietnam: Imported Scrap Offers from Japan & US Rise Further
SteelMint learnt from market participants that imported scrap offers to Vietnam have seen a sharp rise in the last couple of weeks, in line with the uptrend at global levels. As offers of Japanese origin bulk cargoes have also gone up by upto USD 15/MT in the last 2 weeks amid recent rebound, trades have remained rather slow.
Japanese H2 scrap offers stood at USD 265-267/MT CFR, Vietnam. Higher grades of Japanese scrap have observed an even steeper jump, with HS scrap offers standing at USD 305-310/MT and Shindachi at around USD 295/MT CFR in Bulk vessels.
However, bids for HS scrap remain below USD 300/MT, as buyers are resisting the sharp uptrend. Among offers from nearby origins, HK 50/50 scrap from Hong Kong was reported to be at standing at around USD 262-265/MT CFR.
USA origin offers also witnessed a rise, with bulk HMS 1&2 (80:20) currently being offered at around 270/MT CFR Vietnam, while offers for P&S in 40ft containers were reported at around USD 285/MT CFR.
source: SteelMint
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