Import prices for ferrous scrap in Vietnam continued to fall this week amid bearish sentiment in the market, while those in Taiwan held up due to low selling interest and sluggish trading.
In contrast, steel mills in South Korea continued to book large quantities of ferrous scrap in the early part of the week from the United States.VietnamImport prices into the Southeast Asian nation softened again during the week.Fastmarkets MB's import price assessment for heavy melting scrap (HMS) 1&2 (80:20) sold into Vietnam was $303-310 per tonne cfr for the week to Friday January 18, down $5-7 per tonne from a week earlier.No deals were reported for HMS 1&2 (80:20), although offers for deep-sea bulk cargoes of the product were heard at $303-315 per tonne cfr Vietnam.A source at a Vietnamese mill said it was holding off from scrap purchases this week amid expectations of further price drops."We are waiting until next week before we buy scrap, because Turkey has been very active in importing scrap recently,...