Vietnamese steelmakers have dipped back into the deep-sea import market for steel scrap following a sudden surge in Japanese offer prices, sources told Fastmarkets on Wednesday October 6.
Vietnam books fresh deep-sea cargoesTaiwan import prices remain high after strong Japanese offersScrap import prices in India move up following shredded dealVietnam
Vietnamese steel mills are purchasing bulk deep-sea cargoes of heavy melting scrap (HMS) 1&2 (80:20) from Australia and the United States West Coast in light of high offer prices for Japanese alternatives, to feed rising demand for construction steel after the lifting of Covid-19 restrictions.
A 27,500-tonne cargo of HMS 1&2 (80:20) from Australia was sold at $516 per tonne cfr Vietnam, while the same material from the US West Coast was sold at $525 per tonne cfr Vietnam.
Both cargoes...