Scrap buyers in Vietnam are maintaining their wait-and-see approach to get a better idea of price directions after major holidays in the country and in Japan, a major supplier.
No confirmed transactions were heard this week.
Bids for bulk cargoes of Japanese H2 scrap were heard at $230 per tonne cfr Vietnam, while offers were at $236-238 per tonne cfr.
Fastmarkets' weekly price assessment for steel scrap H2, Japan-origin import, cfr Vietnam was $234-235 per tonne cfr on Thursday April 30, unchanged from
a week earlier.
"Some buyers are looking for cargoes, but they are not in a hurry and can wait until after the holidays in Vietnam this week," a Vietnamese trader told Fastmarkets on Wednesday.
Vietnam is celebrating Reunification Day on Thursday and Labor Day on Friday. Trading activity was limited in the first three days of this week.
Japanese HS scrap was offered to Vietnam...