Vietnam: Imported scrap bookings remain slow, prices stable

Vietnam's imported scrap offers remained mostly stable with limited deals happening at available prices. Notably, the country continues to struggle with the pandemic, especially in the southern region where Ho Chi Minh city is located. The government is trying to curb the spread of the pandemic across the nation by imposing partial lockdown and other restrictions.

• SteelMint's assessment for Japanese bulk H2 remained firm at around $470/tonne (t) CFR Vietnam, unchanged w-o-w, while bids were at $465/t CFR. However, no deal was concluded.
  
  
• Price indications for US-origin bulk HMS 1&2 (80:20) were at around $500-505/t CFR Vietnam, unchanged for yet another week.
  
  

Domestic ferrous scrap prices unchanged, semi-finished prices fall: Domestic ferrous scrap prices in Vietnam remained stable last week, as per SteelMint's assessment.

• Procurement price for H1 scrap stands at VND 11,400/kg ($496/t), while VND 11,100/kg ($483/t) is set for H2 grade scrap.
  
  
• Vietnamese scrap deals continue to remain subdued on rising Covid cases in the country.
  
  

Vietnam's domestic billet prices have fallen from VND 14,200-14,250/kg assessed in mid-Aug'21 to VND 14,000-14,050/kg exw towards the closing of last week.

Market highlights of other SE Asian countries

• Imported scrap trade subdued despite fall in offers in Indonesia: Imported scrap trade in Indonesia slowed down last week despite the fall in imported scrap offers. Fresh offers for the most-preferred PNS grade scrap are at $500/t CFR, and HMS 1&2 (80:20) at $450/t CFR Jakarta.
  
  
• Thailand's imported scrap offers firm: Despite firm imported scrap offers, buyers in Thailand remained quiet in booking fresh slots. Central America-origin HMS 1&2 (80:20) remained unchanged at $420/t CFR levels on a weekly basis.
  
  
• Taiwan's imported scrap market quiet: Imported scrap prices for shredded are being offered at $455/t CFR Kaohsiung Port, while HMS 1&2 (80:20) are available at $440/t CFR Taichung levels. However, very few deals were reported.