Asia ferrous scrap prices are still falling, tracking weak downstream prices in the rebar and billet markets.
The price of Taiwan's containerized import scrap has slipped below $300 per tonne cfr, while trading for heavy melting scrap (HMS) 1&2 (80:20) scrap in Vietnam was extremely illiquid due to cheaper material from Hong Kong and Japan being offered to Vietnamese steel mills.VietnamFastmarkets MB's import price assessment for HMS 1&2 (80:20) sold into Vietnam was $348-356 per tonne cfr for the week to Friday November 23, unchanged from the previous week.There were limited offers and negotiations for HMS 1&2 (80:20) bulk cargoes on a cfr Vietnam basis because of the presence of cheaper alternatives in the spot market. There was thin trading activity for such cargoes and no price data available, market sources said."The market is very quiet this week because buyers are all still away...