Mill maintenancesin South Korea and weak demand from end users have caused ferrous scrap import prices in Asia to fall week on week.
Two electric-arc furnace-based steel mills in South Korea have started mill maintenances, while another EAF-based mill and one major integrated mill in South Korea will start mill maintenances from end-July.Weak downstream steel markets and high inventory levels in key import markets Taiwan and Vietnam have also dampened spot demand.VietnamFastmarkets' price assessment for bulk shipments of steel scrap HMS 1&2 (80:20), cfr Vietnam was $310-315 per tonne cfr on Friday July 19, widening downward by $5 per tonne from a week earlier.A single bulk cargo of heavy melting scrap 1&2 (80:20) from the United States' West Coast was offered at $315 per tonne cfr Vietnam, down from $318-320 per tonne cfr Vietnam last week. Similar materials from Singapore were offered at $320 per tonne cfr Vietnam, down from $325-330 per tonne cfr Vietnam. "There is limited spot activity after end users bought two bulk cargoes last week," a trader in Vietnam...