Vietnamese steelmakers are planning to return to importing deep sea cargoes after limited recent buying activity in the country, sources told Fastmarkets on Tuesday August 10.
Vietnamese buyers are looking closely at deep-sea cargoesMajor Chinese steel mills lower domestic scrap purchase prices for the second time in five daysTaiwan secures containerized scrap at lower pricesVietnam
Buyers are seeking bulk deep-sea heavy melting scrap (HMS) 1&2 (80:20) cargoes from the United States' West Coast, which have been offered at $500 per tonne cfr Vietnam.
Vietnamese mills have been largely absent from the deep-sea scrap import markets in recent months amid rumored production cuts in the country, and
low domestic scrap market prices combined with a worsening Covid-19 pandemic.
US West Coast sellers have been
relying on exports to Bangladesh and South Korea instead.
Shredded...