The impending bankruptcy which Vietnam's Thai Nguyen Iron and Steel Joint Stock Company is facing will have limited impact on the Vietnam ferrous scrap import market, market sources told Fastmarkets MB this week.
This is because the state-owned company has not been buying imported ferrous scrap since the last quarter of 2018."The company lost its scrap import licence last year, and is only purchasing scrap from domestic sources. Moreover, it isn't considered a big purchaser of ferrous scrap," a Vietnamese ferrous scrap trader said.Vietnam is fast emerging as a price benchmark for ferrous scrap import...