Asian ferrous scrap prices are still falling in the face of weak demand and a bearish outlook in the region.
Both Taiwan's containerized and Vietnam's bulk import prices were lower, with most buyers keeping away from purchasing in those markets due to their bearish outlook on the scrap and carbon steel markets.There was some purchasing from South Korea, which had booked Japanese, Russian and American scrap this week. Lower offers from Japan on an fob Tokyo Bay basis also dampened prices.VietnamFastmarkets MB's import price assessment for heavy melting scrap (HMS) 1&2 (80:20) sold into Vietnam was $335-340 per tonne cfr for the week to Friday November 30, down $15-16 per tonne from $348-356 per tonne in the previous week.Market sources said there was a deal done at $340 per tonne cfr Vietnam for a deep-sea HMS 1&2 (80:20) bulk cargo earlier this week. However, the buyer could not be confirmed. Offers...