Higher Kanto Tetsugen auction prices have bolstered sentiment in Asia for Japanese scrap, but demand for deep-sea cargoes from the United States' West Coast has faltered in both Vietnam and Taiwan.
VietnamFastmarkets' price assessment for bulk cargoes of steel scrap HMS 1&2 (80:20), cfr Vietnam was $300 per tonne cfr on Friday January 10, narrowing downwards $5 per tonne from last week."It seems that the market is still a bit mixed. Buyers have started bidding lower, but sellers in the US are still confident of getting high export prices due to their robust domestic demand," a US industry source...