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Vietnam: Imported Scrap Offers from US Rise Following Turkish Trend

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Melting Scrap

BigMint Bureau

782 Reads

18 Feb 2020, 13:56 IST

Vietnam: Imported Scrap Offers from US Rise Following Turkish Trend

Imported scrap offers to Vietnam from Japan bottomed out last week after falling continuously for the previous 6-7 weeks, while offers from USA have moved up sharply on global rebound.

Japanese H2 scrap in bulk is currently being offered at USD 250/MT CFR Vietnam, mostly similar to last week's price levels. Some suppliers however were heard to offer less material for export to Vietnam on an anticipation of price rise in the coming days. Offers for higher grades remained limited.

USA HMS 1&2 (80:20) is currently being reported USD 285/MT CFR Vietnam for Bulk cargoes, sharply up by USD 15/MT w-o-w. Continued strengthening of market by active Turkish imports at increasing prices, will keep prices in an uptrend.

Indonesian market too witnessed an uptrend on news about ease in imported scrap regulations for steel industry last week. Some offers for Bushelling were reported at around USD 320/MT CFR, almost at par with Jan-end levels again.