Confusion and mixed sentiment about price trends in the Asian regional ferrous scrap markets have kept spot demand limited in the week ended Friday May 3.
Vietnamese and Taiwanese buyers were betting on further falls in import prices and were not willing to purchase more cargoes. But South Korea was looking to purchase at least three bulk cargoes to guard against further price increases.VietnamFastmarkets' import price assessment for HMS 1&2 (80:20) sold into Vietnam was $320-325 per tonne cfr on May 3, unchanged from a week earlier.There was thin demand for bulk-shipment HMS from Vietnamese steel mills. Market sources said that there were limited offers for US-origin HMS 1&2 (80:20) to Vietnam.European HMS 1&2 (70:30) was offered at $325 per tonne cfr Vietnam, while Japanese H2 scrap was offered at...