Asian ferrous scrap prices have rebounded due to strong demand in Asia, market sources told Fastmarkets this week, with steel mills in Taiwan and South Korea booking both containerized and bulk cargoes.
Price increases in key bellwether market Turkey also supported sentiment, with sellers attempting to hike offers.VietnamImport prices into the Southeast Asian nation were higher due to strong demand from Vietnamese steel mills.There was a sense of supply tightness in South Vietnam, a Japanese trader said, and end users were still seeking cargoes this week.Fastmarkets' import price assessment for HMS 1&2 (80:20) sold into Vietnam was $340-345 per tonne cfr for the week to March 1, up by $5 per tonne from a week earlier.There were offers for deep-sea United States-origin HMS 1&2 (80:20) scrap at $345-347 per tonne cfr to Vietnam.Deep-sea HMS 1&2 (60:40) bulk...