Vietnam scrap prices started to move up after sellers increased their offers in the first half of the week, market sources told Metal Bulletin on Wednesday September 5.
"Prices are expected to exit the price trough this week and start ascending slowly," a trader in northeast Asia said."Especially after Turkish import prices increased yesterday," he added, referring to a deal done at $320 per tonne cfr Turkey for a US-origin bulk cargo of heavy melting scrap.Japan-origin HMS 2 scrap has the biggest premiums, being offered at $360-370 per tonne cfr Vietnam. This was due to the bullish domestic Japanese markets, where major mini-mill...