Sentiment in the key containerized scrap import market of Taiwan flipped to bearish this week, with demand stalling while end users awaited a clearer price direction after rumors of a lower-priced deal in Turkey.
The rumor surfaced despite a trading hiatus in the bellwether Turkish market due to the Eid al-Fitr holiday, which ends on June 10. Demand in key bulk import market Vietnam was thin on weak downstream steel prices caused by domestic blast furnace-based mills offering steel at lower prices.VietnamFastmarkets' import price assessment for bulk-shipment HMS 1&2 (80:20) sold into Vietnam was $315-320 per tonne cfr on June 7, unchanged from the previous week earlier due to limited spot trading.Offers for HMS 1&2 (80:20) from the United States were heard at $320-325 per tonne cfr Vietnam, down $5 per tonne from last week....