Vietnamese buyers have shifted their purchasing focus to Japanese H2 ferrous scrap in light of falling prices in the domestic Japan markets.
However, prices in Taiwan rebounded on the back of firmer prices from key supplier the United States.Some market participants think that ferrous scrap prices have reached the bottom and will rebound soon, although others feel that more price falls will come due to soft Japanese scrap prices.VietnamThe Fastmarkets MB import price assessment for bulk cargoes of heavy melting scrap 1&2 (80:20) sold into Vietnam was $320-325 per tonne cfr for the week ended Friday April 26, down $8 per tonne from $328-333 per tonne on April 18.In Vietnam, no offers from the United States or Australia were heard for bulk cargoes of HMS 1&2 (80:20). Suppliers...