Vietnam: Imported ferrous scrap prices remain largely stable as mills prefer domestic scrap

Vietnamese mills were getting offers from the US at $415-420/t CFR amid downstream demand, reflecting non-urgency among suppliers at year-end. Offers to Vietnam remained unchanged, with H2 priced above $400/t CFR. Cautious buyers found current offerings challenging, with a major Vietnamese mill preferring domestic over aggressive overseas purchases. Local scrap prices in Vietnam rose on re-stocking, with North Vietnam at VND 9,350-9,900/kg and southern Vietnam at VND 9,200-9,400/kg.