Bulk-shipment bookings in Vietnam and South Korea have not prevented Asia ferrous scrap prices from continuing on a downward trend.
Market participants were not hugely active in the market and reported reduced business activities in key import markets due to a year-end demand lull.Vietnam Fastmarkets' import price assessment for heavy melting scrap (HMS) 1&2 (80:20) sold into Vietnam was $316-317 per tonne cfr for the week to Friday December 21, down $4-8 per tonne from $320-325 per tonne cfr a week earlier. Offers for HMS 1&2 (80:20) deep-sea cargoes were at $320 per tonne this week, while negotiations were focused around $316-317 per tonne cfr Vietnam for these materials, market sources said.This was after a South Vietnamese steel mill had bought 26,000 tonnes of deep-sea ferrous scrap from Australia, including 14,000 tonnes of HMS 1&2 (80:20) ferrous scrap at $317...