Electricity cuts in Taiwan in May and June, as well as ample offers from Europe, the United States and Japan dampened ferrous scrap prices in Asia this week.
Steady demand in Vietnam and South Korea failed to generate any upward momentum for prices, with sellers being more willing to lower them to offload their cargoes.Buyers now expect the downtrend to continue and are putting off their procurement plans to next week, when they expect prices to be at lower levels.VietnamThe Fastmarkets MB import price assessment for heavy melting scrap 1&2 (80:20) sold into Vietnam was $335-340 per tonne cfr for the week ended Friday April 5, down $5 per tonne from a week earlier.Deep-sea cargoes of United States-origin HMS 1&2 (80:20)...