Ferrous scrap import prices in Southeast Asia and East Asia stayed on a downward trend this week with most buyers staying on the sidelines while awaiting prices to fall further.
However, market participants were divided over whether the steady prices seen in the bellwether Turkish import market on Thursday were a sign that prices had reached a bottom. VietnamFastmarkets' weekly price assessment for bulk shipments of steel scrap HMS 1&2 (80:20), cfr Vietnam, was $255 per tonne cfr on Friday September 6, down $5-10 per tonne from a week earlier.Bulk cargoes of HMS 1&2 (80:20) from the United States West Coast were offered at $260-263 per tonne cfr Vietnam on Friday, although no bids were reported because buyers were expecting prices to fall further, sources said.These offers were down by about $7-10 per tonne week on week,...